TOKYO, Mar 27 (Pulse News Wire) – Kao Corporation (4452.T) announced its rejection of a shareholder proposal submitted by Oasis Japan Strategic Fund Ltd. and Oasis Opportunities Fund One SPC - Echo SP.
The proposal sought the appointment of an external investigator to examine the company's operations and assets. The extraordinary general meeting (EGM) to address this proposal will take place on March 26 at 10 AM at Kao’s Sumida Works Seminar House in Tokyo.
The board of directors concluded unanimously that there was no significant issue with Kao's supply chain risk management, internal controls, or related disclosures, thus opposing the need for an external investigation. Kao stated that its governance structure effectively manages risks and ensures transparency through various mechanisms, including independent oversight by outside directors.
The company also highlighted its commitment to sustainable practices and robust environmental, social, and governance (ESG) initiatives, which have earned high ratings from multiple ESG evaluation agencies.
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