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Activist Commentary: Oasis Management is a global hedge fund management firm headquartered in Hong Kong with additional offices in Tokyo and Austin, Texas, as well as the Cayman Islands. Kobayashi Pharmaceutical is a Japan-based pharmaceuticals and consumer products company. It would imbue the company with a sense of urgency to improve operational performance, corporate governance and shareholder value maximization. But that is also a long shot, even at a company with corporate governance issues as we have here. The firm is a top-tier Japan shareholder activist and if anyone can get board seats in Japan, it is Oasis.
Persons: Seth Fischer, Oasis, Kobayashi, Akihiro Kobayashi, Kazumasa Kobayashi, Satoshi Yamane, Ken Squire Organizations: Kobayashi Pharmaceutical, Business, Company, Oasis Management, Oasis, Ain Holdings, Kobayashi's, Tsuruha Holdings, Kao Corp, Taisho Pharmaceutical Holdings, 13D Locations: Japan, Hong Kong, Tokyo, Austin , Texas, Cayman Islands, Asia, Europe, Kobayashi, Hokuetsu, Ain
May 22 (Reuters) - Activist investor Oasis Management on Monday urged shareholders of Hokuetsu Corp (3865.T) to vote against the re-election of President Seiko Kishimoto at the Japanese paper manufacturer's upcoming annual general meeting. The "company's corporate governance system, controlled by Kishimoto, has failed to function... We believe true enhancement of the company's corporate value is not possible without his departure," the Asia-focused fund said in a statement. Kishimoto's departure will enhance the paper firm's corporate value over the long term, said Oasis, Hokuetsu's biggest shareholder with a stake of over 18%. Reporting by Urvi Dugar in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
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