Fujitec Shareholders Reject Proposed Outside Directors
17:45 JST, June 22, 2023
HIKONE, Shiga (Jiji Press) — Shareholders of elevator maker Fujitec Co. on Wednesday voted down all eight outside board directors proposed by former chairman Takakazu Uchiyama, a founding family member.
Shareholders approved all nine board directors proposed by the company at their annual meeting held at Fujitec’s corporate headquarters in Hikone, Shiga Prefecture.
The reappointments of outside directors recommended by Hong Kong investment fund Oasis Management, a major shareholder, and the appointment of Managing Executive Officer Masayoshi Harada, next president of the company, to the board also gained approval.
Uchiyama was dismissed from the post of chairman in March after being grilled by Oasis Management about suspicious transactions between Fujitec and the founding family.
Before the day’s gathering, he called on shareholders to support his appointment proposals, saying, “Oasis is causing corporate governance problems by controlling the board.”
"Business" POPULAR ARTICLE
-
China Struggles to Develop Passenger Jet to Rival Boeing, Airbus; Russian Cooperation Falls
-
JR East Eyes Freight-Only Cars for Shinkasen Trains as Japan Logistics Industry Suffers from Labor Shortage
-
JR East Employee in His 70s Earns Doctorate on Safe Train Operations; Believes Accidents Caused by Human Error Can Be Reduced
-
Japanese Cosmetics Firms Competing with South Korean Brands over Inexpensive Products; South Korean Brands Dominating Market Through Social Media
-
Japanese Automakers Team Up on Software Development; Aim to Compete with U.S., China in SDV Market
JN ACCESS RANKING
- Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
- Japan-S. Korea Exchange Festival Held in Seoul
- Japan Trying to Draw Digital Nomads, Who Are Seen as Beneficial to Economy, Society
- JICA Employee Suspected of Leaking Info on ODA Project in Manila; Bidding for Railway Renovation May Have Been Impacted
- Asukayama Monorail in Tokyo: Free to Ride!