Oasis Statement on Sun Corp Extraordinary General Meeting Results

*More information available at www.abettersun.com

HONG KONG & TOKYO--(BUSINESS WIRE)--Oasis Management Company Ltd. (“Oasis”), the manager to funds that collectively are one of the largest shareholders of Sun Corporation (6736 JP) (“Sun”, “Sun Corp” or the “Company”), today commented on the results from Sun Corp’s Extraordinary General Meeting (“EGM”) held on April 8, 2020.

Seth Fischer, Founder and Chief Investment Officer at Oasis, said:

“This landmark vote in favor of Oasis proposals shows that Sun’s shareholders have come together to protect and defend corporate governance and corporate value. This vote shows that minority shareholders stood up together in favor of “A Better Sun”. To our fellow minority shareholders we say: Thank you for your support, for voting in line with your responsibilities under Japan’s Stewardship Code, and for supporting change in the aim of increasing the long-term value of the Company.

This strong mandate for change from shareholders will allow the new board directors of A Better Sun to reset the board's culture, add accountability, deliver fresh views and perspectives, and most importantly help lead the Company toward a brighter future. We are committed to working with Sun Corp’s employees and business partners to build upon the Company’s existing strengths, and to transform Sun Corp into the innovative business envisioned by its founder, Masami Maeda.”

We are grateful for this opportunity to serve the Company and all its stakeholders. We welcome all Sun Corp stakeholders, including shareholders and employees, to contact us at [e-mail].

About Oasis:

Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at https://oasiscm.com. Oasis has adopted the Japan FSA’s “Principles of Responsible Institutional Investors” (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with our investee companies.

Oasis disclaims its intention to be treated as a Joint Holder with other shareholders under the Japanese Financial Instruments and Exchange Act by virtue of its act to express its view or opinion or other activities to engage in dialogue with other shareholders, and Oasis is not soliciting or requesting shareholders to jointly exercise their voting rights together with Oasis. This statement and related materials exclusively represent the opinions, interpretations, and estimates of Oasis. Oasis is expressing those opinions solely in its capacity as an investment advisor to the Oasis Funds.