TOKYO RADIATOR MFG.CO.,LTD. [7235.T]
TOKYO, May 26 (Pulse News Wire) – Tokyo Radiator Mfg.co.,ltd. (7235.T) rejected a shareholder proposal submitted by Fullue LLC for the upcoming 122nd annual general meeting scheduled for June 25, 2026.
However, the board of directors decided against the proposal during a meeting held today, citing concerns that the Super GT sponsorship could potentially harm shareholder value. Fullue LLC argued that despite recent share-price gains, Tokyo Radiator’s PBR (price-to-book ratio) remains well below 1.0, signalling poor capital efficiency, and demanded both an immediate halt to the Super GT sponsorship and a full reallocation of those funds to dividends. The proposal named Yuki Furue, Fullue’s representative member, as the candidate outside director. Fullue holds 316,000 Tokyo Radiator shares.
In response, Tokyo Radiator emphasized its strategic approach to the Super GT sponsorship as a long-term initiative aimed at enhancing corporate and brand value. The board evaluated the proposal based on its objectives, expected benefits, cost levels, risks, and overall impact on shareholder returns. They concluded that the existing two independent outside directors adequately fulfill their supervisory roles without additional appointments.
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