TOKYO, Mar 19 (Pulse News Wire) – Showa Holdings CO.,LTD. (5103.T) failed to reach the quorum necessary to hold its 124th Ordinary General Meeting of Shareholders on March 18.
The meeting could not proceed due to insufficient attendance and voting rights submissions from shareholders, falling short of the requirement set out in Article 15, Paragraph 2 of the company’s articles of incorporation, which mandates at least one-third of eligible shareholders or their proxies. Two key proposals were affected: the appointment of five directors (excluding audit committee members) and the selection of four audit committee member directors. Both require ordinary resolutions but necessitate a quorum. Despite efforts, the number of exercised voting rights fell short, totaling just 130,860 votes (17.259%).
Notably, SIX SIS LTD., the largest shareholder holding 58.46% percent of voting rights, did not participate in the vote. In response, the company plans to reconvene the meeting at a later date to address these unresolved items. Showa Holdings will continue to work towards ensuring sufficient participation from shareholders to facilitate future meetings. The company apologizes for any inconvenience caused to its stakeholders.
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