Synchro Food Agrees to Withdraw Shareholder Proposal

TOKYO, May 18 (Pulse News Wire) – Synchro Food CO.,LTD. (3963.T) agreed today to withdraw a shareholder proposal submitted by AVI JAPAN OPPORTUNITY TRUST PLC (AVI).

The proposal was initially made based on Article 297, Paragraph 1 of the Companies Act through a request dated January 15, 2026, calling for a special shareholders' meeting. Following careful consideration, AVI notified Synchro Food on May 14, 2026, of its decision to retract the entire proposal.

In response, Synchro Food's board of directors held a meeting on May 18, 2025, and approved the withdrawal of the proposal. Additionally, AVI’s retraction covers all shareholder proposals made on April 20, 2026.

The move concludes the ongoing discussions surrounding the initial request and subsequent developments related to the proposal.