Kao Corporation
Notice Regarding Shareholders’ Request for Convening an Extraordinary General Meeting of Shareholders
Shareholders including Oasis Japan Strategic Fund Ltd. have requested the convening of an extraordinary general meeting to appoint an independent investigator to examine the risk management system of palm oil and paper & pulp supply chains.
Key Figures
- Shareholders' Voting Rights Holding Ratio: Over 3% (combined requestors)
- Investigation Period: 3 months (extendable)
- Palm Oil Sales Dependency: 100%
AI要約
Overview of the Request for Convening an Extraordinary General Meeting
Shareholders Oasis Japan Strategic Fund Ltd. and Oasis Opportunities Fund One SPC - Echo SP have requested Kao Corporation, based on Article 297, Paragraph 1 of the Companies Act, to convene an extraordinary general meeting of shareholders for the appointment of an independent investigator regarding the risk management system, internal controls, and board oversight of the palm oil and paper & pulp supply chains. The requestors have held over 3% of the Company's voting rights for more than six months.
Background of the Request and Necessity of Investigation
The requestors contend that deficiencies in the Company’s supply chain risk management system, highlighted by whistleblowing and independent reports, could seriously impact corporate value, and are seeking a factual investigation and recommendations for corrective actions by an independent investigator. Concerns include allegations of involvement in deforestation and human rights violations in palm oil and paper & pulp procurement, inadequate grievance mechanisms, and insufficient disclosure of supply chain certification. The investigation is to be conducted over three months, with part of the investigation costs compensated by the requestors.
