Oasis’s Proposals for Director Candidates to Improve Governance at Tenma Receive Company Support

• Oasis proposes three director candidates for Tenma’s Audit and Supervisory Committee
• Tenma’s Board of Directors announced its support for Oasis’s director candidates in a May 21 statement
• Oasis’s director candidates to improve corporate governance, board diversity, and corporate value for all stakeholders
• All shareholders should vote FOR the Oasis proposals at Tenma’s AGM on June 29 to help create A Better Tenma
• More information available at www.ABetterTenma.com

HONG KONG & TOKYO--(BUSINESS WIRE)--Oasis Management Company Ltd. (“Oasis”) is the manager to funds that own shares of Tenma Corporation (7958 JP) (“Tenma” or the “Company”), a leading plastics manufacturer in Japan.

Oasis submitted proposals to add three highly skilled directors to Tenma’s Board of Directors at the upcoming Annual General Meeting of Shareholders (“AGM”), and Tenma announced on May 21 that the Board of Directors has recommended in favor of all of Oasis’s proposed director candidates.

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

“We greatly appreciate this demonstration of support from Tenma's Board of Directors for our proposed director candidates. This is a testament to the improvements in governance we are seeing across Japan, and the important role that well qualified, truly independent directors play in Japan's ROE revolution."

Oasis’s three proposed director candidates -- Ms. Miyo Nishida, Mr. Kazuhiko Hara, and Mr. Hirotaka Goto -- are deeply experienced, highly qualified professionals who will focus on helping Tenma improve its governance and corporate value for the long-term. Oasis calls on all Tenma shareholders to vote FOR the Oasis proposed director candidates at the upcoming AGM to help Tenma improve its governance and protect its corporate value.

Full details and director biographies can be viewed at www.ABetterTenma.com. All stakeholders are encouraged to contact Oasis at [e-mail].

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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.