Dalton Investments Submits Shareholder Proposal to Iwaki
November 19, 2018 at 11:00 pm
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On November 20, 2018, Dalton Investments LLC announced proposals according to circumstances: (i) in order to avoid potential conflicts of interest, seeking a more transparent management system and requesting the appointment of independent directors who respect the opinions of minority shareholders in general, (ii) changes in dividend policy such as increase in dividend to improve stock value, changes to capital policy such as own stock purchase, (iii) and any other reasonable measures that other submitters believe will lead to an increase in shareholder value of the Company, etc.
Astena Holdings Co Ltd, formerly Iwaki & Co Ltd is a Japan-based company primarily engaged in the fine chemicals business, medical business, health & beauty care (HBC) and food business, and industrial chemicals business. The Company operates through four business segments. The Fine Chemicals segment is engaged in manufacture and sale of pharmaceutical raw materials and pharmaceuticals. The Medical segment is engaged in the manufacturing and sales of pharmaceutical products. The HBC and Food segment is engaged in the manufacture and sale of cosmetic raw materials, functional food raw materials, general use medicines and related products, as well as cosmetics. The Industrial Chemicals segment manufactures and sells chemicals for electronic industries, surface treatment chemicals, chemical products, surface treatment chemical raw materials, as well as to printed circuit board and other manufacturing plants. The other businesses include consulting services and others.