Santa Monica, CA (May 25, 2016) – Dalton Investments today said Tokyo-based Prestige International Inc. (4290:JP) has nominated Mr. Shiro Hayashi, CEO of Dalton Advisory KK, as a candidate for outside director membership on its Board. Dalton Advisory KK is the wholly owned Japanese subsidiary of Dalton Investment LLC.
“Dalton welcomes the opportunity to offer advice and constructive proposals to assist Prestige’s management from the perspective of shareholders and the capital markets,” said James B. Rosenwald, Co-Founder of Dalton Investments and Portfolio Manager for Dalton’s Asian Equities strategies. “We hope that Dalton’s positive relationship with Prestige will assure other Japanese companies that Dalton can be a supportive partner and valuable resource for companies looking to enhance alignment of interest with investors and compound corporate value.”
Mr. Hayashi’s election is subject to approval at Prestige’s 30th Annual General Meeting of Shareholders to be held on June 24, 2016. Dalton Investment LLC owns 3,150,200 shares of Prestige International (as of December 25, 2015, based on filing for Ministry of Finance).
View Prestige International’s announcement.
About Dalton Investments LLC
Dalton Investments LLC is a value-focused investment management firm with expertise in Asia equities, global equities and fixed income. Headquartered in Los Angeles, with a subsidiary office in Tokyo, Dalton manages $3.3 billion (December 31, 2015) in actively managed long-only and long/short strategies for pensions, endowments, foundations, financial institutions and family offices.