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Kaname Capital Publishes Anonymous Letter on the Third-Party Committee Investigation at Fukuda Denshi and Calls on the Committee to Investigate Thoroughly

BOSTON--(BUSINESS WIRE)--Kaname Capital, L.P. (“Kaname Capital” or “we”) today published an anonymous letter that identifies problems with the Third-Party Committee investigation at Fukuda Denshi Co., Ltd. (TSE: 6960; “Fukuda Denshi”), and called on the Committee to conduct a thorough investigation.

Please read the documents linked at the end of this release. The letter alleges that, although President Shirai and other members of the current executive team are suspected of using company expenses for personal purposes and abusing their personnel authority, arrangements have been made to keep the Third-Party Committee’s investigation from reaching them. We call on those who know of problems with the current executive team to come forward with further information.

Fukuda Denshi has established a Third-Party Committee, which is investigating misconduct including the personal use of company expenses by former Chairman Kotaro Fukuda. Kaname Capital has for some time had information indicating that misconduct at Fukuda Denshi extends to other executives and to its sales subsidiaries and had asked the Committee to broaden the scope of its investigation. We have now received, from an anonymous person with inside knowledge of the company, a detailed letter concerning the Committee’s investigation. In view of the seriousness of its contents, we are publishing the letter and once again ask the Third-Party Committee to review the structure of its investigation and to investigate thoroughly.

Stakeholders with information relevant to this matter — current or former Fukuda Denshi employees, business counterparties, healthcare workers, or others — are invited to contact us at contact@kanamecapital.com. Anonymous submissions are welcome, and sources will be protected.

[Attachments]

1. Open Letter “Request Concerning the Investigation by Your Third-Party Committee,” dated August 31, 2026
https://9b5cc9f0-1871-48d4-9379-a0f7002dcedd.usrfiles.com/ugd/9b5cc9_bed23cf4ce234a63835b06b7a7f1c64c.pdf

2. Anonymous letter identifying problems with the Third-Party Committee investigation (received August 2026; Japanese only)
https://9b5cc9f0-1871-48d4-9379-a0f7002dcedd.usrfiles.com/ugd/9b5cc9_d924a3336eae4175a404855b5030de29.pdf

Contacts

Kaname Capital, L.P.
contact@kanamecapital.com
+1-617-221-3584
201 Washington Place, 26th Floor, Boston, MA 02108

Industry:

Kaname Capital, L.P.

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Contacts

Kaname Capital, L.P.
contact@kanamecapital.com
+1-617-221-3584
201 Washington Place, 26th Floor, Boston, MA 02108

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