Stella Chemifa Rejects Shareholder Proposal for Later Dividend Record Date

TOKYO, May 14 (Pulse News Wire) – Stella Chemifa Corporation (4109.T) rejected a shareholder proposal submitted by Nippon Active Value Fund plc for its upcoming annual general meeting scheduled for June 19, 2026. The proposal sought to change the dividend record date from March 31 to May 15 annually.

The company's board of directors opposed the proposal due to practical concerns, stating that shifting the record date would significantly increase operational burdens without clear benefits. They noted that moving the record date could complicate shareholder management processes, require additional administrative work, and impact director appointments and reporting timelines.

Additionally, scheduling the AGM in July or August poses health risks during summer heatwaves and disrupts vacation plans. Despite these challenges, Stella Chemifa remains committed to enhancing transparency and investor engagement.

The company continues to explore ways to disclose securities reports well ahead of the AGM while balancing operational feasibility.