TOKYO, May 14 (Pulse News Wire) – Namekawa Shipping Co., Ltd. (9357.T) rejected four shareholder proposals submitted by Nippon Active Value Fund plc ahead of its upcoming annual general meeting scheduled for June 26, 2026.
The board opposed the proposal for share repurchase due to ongoing economic uncertainties and the need for internal reserves. They also disagreed with changing the number of outside directors, citing existing governance structures that ensure independent oversight.
Additionally, the board rejected adjustments to restricted stock compensation plans, arguing that current levels align with long-term value creation goals. Furthermore, the board dismissed a suggestion to alter the record date for the annual general meeting, stating that such changes would complicate rights relationships and potentially delay dividend payments, contrary to shareholders' interests.
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