According to the company’s website press release on March 23, 2023, as announced in the press release on January 11, 2023, the Company passed a resolution for and introduced the “Company’s Basic Policies for the Control of the Company Based on the Fact that City Index Eleventh Co., Ltd. and Other Parties Carry Out Large-scale Purchase Actions, etc. of the Company’s Share Certificates, etc. and Response Policies to Large-scale Purchase Actions, etc. of the Company’s Share Certificates, etc.” on the same date.
Although the Company announced the status of the dialogue with City Index Eleventh Co., Ltd. (“City”; together with its joint holder, Ms. Aya Nomura, and Reno, Inc., “City and Other Parties”) on our website, since the amount of information is massive, and City and Other Parties have arbitrarily extracted only some of the statements that were convenient for City and Other Parties when issuing information, and there is a concern regarding accuracy of the details, the Company would like to provide the developments of the dialogue in order to correct our shareholders’ misunderstanding and to provide appropriate information.
The Company has strong suspicions that City and Other Parties arbitrarily extracted only some of the statements that were convenient for City and Other Parties, making it seem as if City and Other Parties have consistently continued to make constructive suggestions to the Company, and made a statement that was not based on facts, omitting any threatening words or actions to demand the immediate implementation of the share buy-back from the Company based on large shareholdings.
We would like to request that our shareholders pay full attention to the relevant status and grasp appropriate information through disclosed materials issued by the Company.
(Composition of materials)
1. Developments of dialogue between the Company and City (April 15, 2022 to January 11, 2023)
2. Sudden change in City’s attitude (from January 12, 2023)
3. The Company’s thoughts on the spin-off of the Company’s renewable energy business
4. Problems in City’s words and actions regarding the spin-off
• Exhibit (the past investment activities by investment vehicles and the like over which Mr. Yoshiaki Murakami exercises influence (Murakami Fund-Related Parties), the court’s finding, etc.)
