Japan Display Extraordinary Shareholders Meeting The voice of resentment from the management team was September 27, 16:19
LCD panel manufacturer Japan Display, which is under management restructuring, held an extraordinary general meeting of shareholders on the 27th. On the 26th, the day before the general meeting, shareholders told us that they were angry about the management team because they told them that the Chinese fund had left the support framework.
At the extraordinary general meeting of shareholders held in Tokyo, approximately 220 shareholders participated and CFO Kikuoka, who is scheduled to become president, explained the status of the management restructuring plan.
The shareholder meeting was scheduled to resolve the procedure for receiving up to 80 billion yen from Chinese and Hong Kong funds.
However, on the 26th of the previous day, the Chinese fund, which was supposed to be the biggest support destination, has announced its policy of leaving the support framework, so the rebuilding measures have been reworked.
For this reason, shareholders expressed their opinions asking whether there were any problems with future funding.
The company explained that it would continue to discuss with the Chinese fund and seek other understandings such as the policy of finding other support destinations, and eventually all the proposals including the necessary procedures for support were passed. .
After the meeting, a shareholder man in his 40s said, “I was very worried about the future, but I felt a little bright because I heard the explanation if I continued to talk about support.”
On the other hand, a man in his 70s was angry, saying, “Shareholders were angry. It wasn't a problem that management had to bow, and they wanted to give up their shares but they could n’t sell.”