RMB Capital Files Proxy Solicitation Against Faith, Inc.

Firm Seeks Shareholder Approval on its Nomination of Outside Director

CHICAGO--()--RMB Capital (“RMB”), an independent investment and advisory firm with approximately $9.1 billion in assets under management (estimated as of March 31, 2018), initiated a proxy solicitation to approve an RMB-nominated outside board member at Faith Inc.’s (4295 JP) 26th Annual General Shareholders’ Meeting scheduled for June 28, 2018.

The proxy solicitation, filed on June 15, 2018, encourages Faith shareholders to vote for Item 4 (“Appoint Shareholder Director Nominee Hosomizu, Masakazu”). As noted in a previous press release, RMB proposed the nomination of Masakazu Hosomizu, partner and portfolio manager of RMB’s Japan equity strategies, as an outside director in order to provide oversight of Faith’s executive team from the perspective of minority shareholders, and to further the company’s corporate governance practices. Japan’s heightened corporate governance code was recently enacted to align interests between the country’s shareholders and businesses.

However, the board of directors at Faith declined RMB’s proposal without proper due diligence, refusing to interview Hosomizu and failing to provide shareholders with any logical reason for its decision to deny RMB’s proposal in its proxy letter to shareholders. Given these facts, RMB filed for the proxy solicitation to support its board nominee. Regardless of the outcome at the upcoming shareholders’ meeting, RMB intends to be a long-term shareholder and continue its efforts to improve Faith’s corporate governance.

There is no definitive conclusion that relying on RMB’s suggestions and proposed candidate will have any positive or negative impact on Faith.

About RMB Asset Management

RMB Asset Management specializes in long-term, concentrated, active investing strategies. From long-only strategies to a select lineup of differentiated absolute return offerings, its products span the market-cap spectrum and the globe. Its team of highly experienced portfolio managers and analysts are united by an emphasis on fundamental research and a belief that quality portfolios outperform.

About RMB Capital

RMB Capital is an independent investment and advisory firm. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Headquartered in Chicago, RMB also has offices in Denver; Jackson Hole, Wyo.; Lake Forest, Ill.; Milwaukee; Minneapolis; New York; Oakbrook Terrace, Ill.; and Washington D.C. To learn more about RMB, visit www.rmbcap.com.

Contacts

RMB Capital
Media Contact:
Greenhouse Partners
Shawn Malayter, 872-267-2636
Senior Associate
smalayter@greenhousepartners.com
or
RMB CONTACT:
Kate Demet, 312-784-3203
Partner, Chief Marketing Officer
kdemet@rmbcap.com

Release Summary

RMB Capital initiated a proxy solicitation to approve an RMB-nominated outside board member at Faith Inc.'s annual shareholders' meeting on June 28.

Contacts

RMB Capital
Media Contact:
Greenhouse Partners
Shawn Malayter, 872-267-2636
Senior Associate
smalayter@greenhousepartners.com
or
RMB CONTACT:
Kate Demet, 312-784-3203
Partner, Chief Marketing Officer
kdemet@rmbcap.com