CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), a Chicago-based independent investment advisory firm, is a long-term shareholder of Musashi Co., Ltd. (7521 JP, “Musashi”) and owns approximately 5% of the firm’s total outstanding shares.
RMB filed a shareholder proposal (Proposal #4) for Musashi’s 99th annual general shareholders meeting, scheduled on June 26, 2020, to buyback common stock of 61,000 shares, maximum 100 million yen. Even with the uncertainty caused by the COVID-19 pandemic, Musashi holds 20.1 billion yen in cash on its balance sheet. RMB believes the management should start a buyback program and send a strong message to the stock market that Musashi remains a healthy business, despite its stock price staying at a historically low level.
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.