Author Archives: Alina Peon
Dalton Sends Letter to Aska Pharmaceuticals Holdings and Bunka Shutter Criticizing their Potential Use of Poison Pills
Dalton Investments, a major shareholder of Aska Pharmaceuticals and Bunka Shutter, has sent a letter to both companies criticizing their adoption of a “Response Policy on Large-Scale Purchase of Shares”. The letter outlines four key points of Dalton’s position. Read …
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Dalton Blasts Japan’s Aska Pharma, Bunka Shutter for Takeover Defenses
Dalton Investments’ response to the anti-takeover measures adopted by Aska Pharma and Bunka Shutter—two companies in which it is a major shareholder—was recently featured in Nikkei Asia. Read the article here.
Japan’s Upper House Election Update
Shiro Hayashi, Director of Research and Head of Dalton’s Tokyo research office, discusses the recent House of Councillors (Upper House) election in Japan, where the Liberal Democratic Party (LDP) and its coalition partner Komeito suffered a second consecutive defeat. Read …
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Implementation of Fuji Media Holdings’ Reform Action Plan and Introduction of Takeover Defense Measures Against the Murakami Fund
Rising Sun Management, an affiliate of Dalton, has sent a letter to Fuji Media Holdings regarding the implementation of a reform action plan and the introduction of takeover defense measures against the Murakami Fund. Read the letter here. This document …
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Request for Consideration of Timing of AGMs & Early Reporting
Dalton Investments has sent a letter to the boards of directors of its portfolio companies, requesting consideration of early disclosure of securities reports and the “de-concentration” of annual general meetings dates. We have long held the view that the information …
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A Response to ASKA’s New Policy for “Large Scale Purchase Actions”
Dalton Investments’ affiliate, Rising Sun Management Ltd. (“RSM”), has sent a letter to the Board of Directors of ASKA Pharmaceutical Holdings Co., LTD (“ASKA”) to share its concerns about the company’s recently-adopted “Policy for Responding to Large-Scale Purchase Actions” and …
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Dalton CIO Jamie Rosenwald appears on Investor’s Sunday Podcast
Dalton CIO Jamie Rosenwald recently appeared on Investor’s Sunday, which is a regular show on Tokyo’s InterFM. The show is co-hosted by Yuko Ezure and Dalton’s own Masumi Nishida, Partner and Managing Director for Dalton’s Tokyo research office. The show …
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Dalton’s Response to Fuji Media Holdings 2025 Annual Meeting
Today, Fuji Media Holdings (FMH) held its Annual General Meeting. Despite heavy rain, over 3,000 shareholders waited in line to attend the Ariake Arena, an event hall that hosted Billie Eilish during her “Happier Than Ever, The World Tour.” Many …
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Shareholder Proposals – A Powerful Tool for Driving Change
A record number of companies received shareholder proposals in this year’s June Annual General Meeting (AGM) season in in Japan, with a total of 114 companies having at least one shareholder proposal on their AGM agenda. Institutional asset managers submitted …
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Counterarguments to Fuji Media Holdings’ Reasons for Opposition to Proposed Independent Directors
June 6, 2025 In the notice for the 84th regular shareholders’ meeting published on May 30, 2025, the board of directors of Fuji Media Holdings (FMH) formally stated its opposition to all 12 of our proposed independent outside director candidates. …
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