On June 17, 2024, NC Holdings Co., Ltd, announced in its press release that it had received a letter from Global ESG Strategy stating that it has withdrawn the shareholder proposals. The company passed a resolution to consent to the withdrawal of the shareholder proposal. The proposals withdrawn are as follows: 1. Disposal of surplus funds, 2. Partial amendment to the articles of incorporation (regarding dividend policy for surplus), 3. Partial amendments to the articles of incorporation (regarding directors' meetings with shareholders), 4. Partial amendments to the articles of incorporation (disclosure of medium-term management plan).

The Board of Directors had resolved not to take proposal 1 on the agenda of the meeting previously, as the appropriation of surplus was in excess of the amount available for distribution under the companies act, and was therefore unlawful.