TOKYO, Jun 28 (News On Japan) –
The proposal to promote shares of Oriental Land was rejected at Keisei Electric Railway’s shareholders assembly, regardless of being pushed by a UK funding fund.
On June 27, a concentrated day for shareholders conferences, 668 firms listed on the Tokyo Stock Exchange held their conferences, accounting for roughly 30% of all listed firms.
The focus was on the actions of “activist shareholders.” According to Sumitomo Mitsui Trust Bank, a document 91 firms obtained shareholder proposals for revising their administration buildings.
Among them, Keisei Electric Railway confronted a proposal from a UK funding fund to promote its shares in Oriental Land. Oriental Land is the operator of Tokyo Disney Resort, and the funding fund argued that holding the shares doesn’t contribute to Keisei Electric Railway’s development. However, the proposal was rejected by a majority vote.
Source: ANN