Sekisui House General Meeting of Shareholders Rejection of proposal by the former chairmen seeking management reform April 23, 17:34
Sekisui House's shareholders' meeting, which attracted attention, was held on the 23rd, when the former chairman and the current management team confronted each other over a huge loss. The previous chairman's shareholder proposal, which called for renewal of management, was rejected by the majority.
The Sekisui House shareholders' meeting was held in Osaka city on the 23rd.
The focus of the meeting was on a shareholder proposal calling for the retirement of the current management team. When the former chairman, Isamu Wada, was the chairman of the company, the company recorded an extraordinary loss of more than 5.5 billion yen due to the land transaction related to the fraud case, and Wada was forced to resign.
Mr. Wada pointed out that the current management team did not properly disclose information in the land transaction at issue, and made a shareholder proposal requesting that the current management team be renewed because governance is not functioning. It was
As a result of the General Assembly, the proposal was rejected by the majority.
Regarding this year's shareholders meeting, two major US advisory companies that have an influence on foreign investors recommended that they oppose the reappointment of the chairman and vice chairman of the current management team. The result passed the proposal.