CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), a Chicago-based independent investment advisory firm, is a long-term shareholder of Sanyo Shokai Ltd. (8011 JP, “Sanyo”) and owns more than 6% of the firm’s total outstanding shares.
RMB has been requesting inspection and copying of the shareholders’ book of Sanyo to discuss our proposals being put forward at the annual shareholders’ meeting scheduled in May with other Sanyo shareholders. However, Sanyo has been unfairly refusing to disclose the book without any legal basis. As a result of this action, RMB filed a petition for provisional disposition at Tokyo District Court to release the shareholders’ book of Sanyo.
We are disappointed with Sanyo’s management, who is not complying with regulations and continues to damage the lawful rights of shareholders, which are clearly protected by the Corporate Act. This is additional evidence that Sanyo’s management is not just ill-equipped to provide good corporate governance, but also lacks a law-abiding spirit that should be fundamental to any business. RMB believes Sanyo’s management needs to be completely upgraded to turn around the business.
Please refer to Sanyo Shokai Activism for RMB’s past press releases.
About RMB Capital
Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.