Fujitec, an elevator manufacturer headquartered in Hikone City, Shiga Prefecture, withdrew its proposal to reappoint President Takakazu Uchiyama's director before the general meeting of shareholders on the 23rd, and Mr. Uchiyama will also retire. ..


A major shareholder of Fujitec, a Hong Kong-based investment fund, has called on other shareholders to oppose the reappointment of President Uchiyama, saying that the company is providing convenience to Mr. Uchiyama and other founders.

Elevator maker "Fujitec" announced on the morning of the 23rd that it has withdrawn the proposal to reappoint the director of President Takakazu Uchiyama, which had been submitted to the general meeting of shareholders.



It is unusual for the company to withdraw the proposal to reappoint the incumbent president just before the general meeting of shareholders.



In addition, Mr. Uchiyama will also retire as president.



Regarding Fujitec, the investment fund "Oasis Management", which is based in Hong Kong and is believed to hold about 9% of Fujitec's shares, said, "The company is a private use of the Uchiyama family, the founder. In addition to the alleged purchase of a luxury condominium in Minato-ku, Tokyo, there is an uncertain deal with another company owned by President Uchiyama. " I was calling to.



Last month, Fujitec stated that there was no problem with the fund's indication, but on the 17th of this month, it decided to set up a third-party committee to conduct an additional investigation.



If the survey reveals that there are no problems, the company will once again ask shareholders whether or not to assume the post of director.

Investment fund manager "Acts trying to escape accountability to shareholders"

The head of a Hong Kong-based investment fund, who opposed the reappointment of President Uchiyama, held an online press conference.



Seth Fischer, Chief Investment Officer of Oasis Management, said of the withdrawal of the reappointment plan, "It will deprive shareholders of the right to choose their own agent. An act of trying to escape accountability to shareholders. I criticized it.



In addition, regarding the fact that the company has set up a third-party committee to investigate the transaction in question again, "how independence was lacking because it mentioned that Mr. Uchiyama would be reappointed as a director. I think you can see the investigation. "



After that, he said, "I would like to exercise all the rights legally recognized as a shareholder and have a dialogue" regarding future measures, and expressed the idea of ​​continuing to ask the company for improvement over the state of corporate governance.

Keywords: