KITAZAWA SANGYO CO.,LTD. [9930.T]
TOKYO, May 18 (Pulse News Wire) – Kitazawa Sangyo CO.,LTD. (9930.T) rejected two shareholder proposals submitted by Tempo Holdings Co., Ltd.
For its upcoming annual general meeting scheduled on April 24. The first proposal sought the appointment of Akira Morishita as a director based on his track record of rapid growth and leadership skills. However, the board opposed this move, citing ongoing successful initiatives such as establishing training facilities, entering the household kitchen industry, and enhancing after-sales services through mergers. They argued that Morishita's proposed integration of expertise did not align with their existing strategies.
The second proposal aimed to introduce a shareholding benefits program offering gift vouchers redeemable at partner stores. The board also rejected this plan, stating that dividend payouts remain the fairest method for returning profits to shareholders. They emphasized that while flexible options could be considered in the future, rigidly enshrining such programs in the articles of incorporation would limit strategic flexibility. Both proposals were deemed unnecessary by the board due to concerns over equity among shareholders and potential misalignment with the company’s long-term value creation goals.
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