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Japan Capital and Governance (Page 22)

Share buybacks, offerings, activist stakes, shareholder votes and board changes at Japanese companies.

  1. Nichicon shareholders approve ¥19 year-end dividend, ¥1.28bn total

    Nichicon's annual meeting cleared a ¥19 per-share year-end dividend worth ¥1.28bn in total, with the distribution effective from June 29 and no broader capital-allocation update in the excerpt.

  2. Hanshin Diesel Works shareholders approve six directors and four Audit and Supervisory Committee directors

    The June 26 vote confirms Hanshin Diesel Works' formal board lineup, including President Kazuhiko Kinoshita, although the disclosure excerpt does not show whether the slate is mostly reappointments or new faces.

  3. ESPEC shareholders approve ¥70 year-end dividend and board slate

    The annual meeting confirmed a ¥70 payout per common share and elected seven directors plus three Audit & Supervisory Committee members, giving investors final public confirmation on cash return and governance.

  4. SCREEN shareholders approve ¥170 year-end dividend, elect eight directors

    The annual meeting approved a ¥170 per-share payout and elected Masato Goto alongside seven other directors, formalising cash return and board appointments but offering no new operating update.

  5. Taisei Oncho shareholders approve ¥92 year-end dividend and board lineup

    A ¥577.9mn payout took effect on June 26 after shareholders approved a ¥92-a-share year-end dividend and elected six directors plus four Audit & Supervisory Committee directors.

  6. SIG Group shareholders approve three-director slate

    The June 26 annual meeting approved three directors outside the audit and supervisory committee, including president Sumio Ishikawa and executive vice-president Hidenobu Hatta, though the excerpt provided does not show the vote totals.

  7. Omori Engei Holdings carried ¥1.36bn of bonds against ¥77.3mn of net assets

    The unlisted company, which holds 31.98% of Ota Kaiki's voting rights and shares a director with the listed group, posted ¥5.4mn of net profit for the year to March on ¥19.5mn of dividend income.

  8. Monex resets executive pay, raising performance-linked incentives

    Monex Group's chief executive will have a standard pay mix of 40% base pay, 25% short-term incentive and 35% long-term incentive under a policy overhaul that adds profit, ROE, relative TSR and mission goals to the scorecard.

  9. Shiseido taps bond shelf with first ¥13bn offering

    The move: Shiseido’s first disclosed use of its April debt programme sets a ¥13bn corporate bond offering against a ¥300bn ceiling that runs until April 2028, with no prior drawdowns listed in the filing.

  10. Kansai Paint sets ¥10bn buyback, with 5mn-share cap and planned cancellation

    Up to 5mn shares, or 2.81% of stock, can be repurchased between August 2026 and August 2027, and Kansai Paint says the shares bought will be cancelled, though market conditions could prevent full execution.

  11. Japan System Techniques sets 8.06% buyback, plans to cancel most shares

    Up to 2 million shares and ¥2.5bn of market purchases back a 50 per cent-plus payout policy, but Japan System Techniques says stock needed for employee RS and executive incentives will be retained rather than cancelled.

  12. Uchiyama shareholders back ¥2.12bn capital cut that leaves shares unchanged

    Shareholders backed a cut in stated capital to ¥100mn, but the company says the move is a balance-sheet reclassification into other capital surplus that leaves issued shares and net assets unchanged.

  13. Nippon Felt approves ¥750mn buyback as four-holder bloc reaches 7.38%

    A ¥750mn buyback authorisation covering up to 5.96% of stock arrives alongside a separate filing showing DOE5% and three joint holders at 7.38%, a combination worth watching even though neither disclosure links the two.

  14. Kohjin Bio splits chair and president roles, adopts audit-committee structure

    The move: Kohjin Bio’s shareholders approved an audit and supervisory committee structure, split the top jobs between a chair and president, and signed off on a ¥10 per share dividend worth ¥51.1mn. Separately, Takahito Nakamura remained disclosed as the controlling shareholder with 53.91% of voting rights.

  15. Kaihan appoints Progress as auditor, pushes reporting items to follow-up AGM session

    Shareholders elected three directors, appointed Progress Audit Corporation and approved an auditor-liability clause, but Kaihan still needs a continuation meeting to handle unresolved reporting items after its disclaimer of opinion disclosures.

  16. Shiseido starts ¥300bn bond shelf with first ¥13bn drawdown

    The move: Shiseido has moved to issue ¥13bn of corporate bonds, the first use of a ¥300bn shelf that became effective in April and runs until April 2028.

  17. Kansai Paint sets a ¥10bn buyback and plans to cancel the shares it buys

    The move: Kansai Paint can repurchase up to 5mn shares, or 2.81 per cent of stock excluding treasury shares, between August 2026 and August 2027. The catch: it plans to cancel the repurchased stock, but says some or all orders may go unfilled depending on market conditions.

  18. Japan System Techniques plans a ¥2.5bn buyback, but some shares are earmarked for pay awards

    The catch: Japan System Techniques has approved up to ¥2.5bn of buybacks, but says only the shares not needed for employee restricted stock and executive incentives will be cancelled.

  19. Asterisk targets ¥2.18bn from EVO FUND warrants, but the cash is not locked in

    Two EVO FUND warrant series are struck at ¥1,800 and ¥2,000, with a fixed 1.15mn-share dilution ceiling but no guarantee Asterisk actually receives the full ¥2.18bn.

  20. ASIAN STAR links Hash Global fundraise to BNB Chain real-estate tokenization plan

    The move: ASIAN STAR approved a ¥222.0mn share placement to Hash Global Alpha and up to ¥217.0mn of warrants for two other investors to fund a planned Japanese real-estate RWA business tied to BNB Chain, though the company says the PoC still needs legal, tax and operating work.

  21. UNIVA Oak wins shareholder approval for capital reduction and surplus appropriation

    The move: shareholders approved a capital reduction and surplus appropriation at the June 25 AGM with 97.93% support, though the report excerpt leaves the amount and effective date unclear.

  22. OPTiM misses Tokyo Prime’s ¥10bn tradable-share value bar despite higher sales

    The number: OPTiM said its tradable-share market value was ¥9.21bn, short of Tokyo Prime’s ¥10bn requirement, even as annual sales rose to ¥11.73bn. A separate same-day disclosure shows the company already used a buyback from founder-president Shunji Sugaya to trim his stake and improve float and liquidity.

  23. Kohjin Bio adopts dual representative setup after AGM vote

    The move: Kohjin Bio adopted an audit-and-supervisory-committee model and split the top representative role between Takahito Nakamura as chairman and Yuichi Nakamura as president, while a same-day disclosure showed Takahito still controlled 53.91% of voting rights.

  24. Smaregi seeks to drop PSU proration and lift the payout ceiling to 200%

    Directors’ stock awards would no longer be prorated for months served and could pay up to 200% of base shares, if shareholders back Smaregi’s proposal on July 29.

Japan Capital and Governance (Page 22) | Tokyo Brief