Engagement in Japan

Letter Sent to Yakult Honsha September 11, 2026 Dalton Investments has sent a letter to the Corporate Value Enhancement Committee of Yakult Honsha Co., Ltd. (“Yakult”). Yakult has established a Corporate Value Enhancement Committee and is currently undertaking a fundamental . . .

Glass Lewis Recommends Voting AGAINST Aska Pharmaceutical Holdings’ Proposal No. 11 June 15, 2026 Dalton Investments welcomes the recommendation by Glass Lewis & Co. (“Glass Lewis”), the independent proxy advisory firm, that shareholders vote AGAINST Proposal No. 11 at the . . .

Our Views on the Proposal by ASKA Pharmaceutical Holdings Co., Ltd. to Activate Countermeasures May 27, 2026 We and our joint holders (collectively, “we” or “us”) strongly oppose the conditional activation proposal (Proposal No. 11) targeting us, which ASKA Pharmaceutical . . .

Glass Lewis Recommends Vote AGAINST Bunka Shutter Proposal No. 4 Dalton Investments welcomes the recommendation by Glass Lewis & Co. (“Glass Lewis”), the independent proxy advisory firm, that shareholders vote AGAINST Proposal No. 4 at the 80th Annual General Meeting . . .

We and our joint holders (collectively, “we” or “us”) strongly oppose the conditional activation proposal (Proposal No. 11) targeting us, which ASKA Pharmaceutical Holdings Co., Ltd. (“ASKA Pharmaceutical” or the “Company”) announced…

Rising Sun Management (RSM), an affiliate of Dalton Investments, has submitted a shareholder proposal to Bunka Shutter Co., Ltd. (“Bunka Shutter”) ahead of the company’s upcoming AGM in June 2026…

Diligent Market Intelligence recently released its “Corporate Governance in Asia 2026” report, highlighting a sharp rise in shareholder activism across the region. It recognized Dalton Investments and Nippon Active Value Fund (managed by Dalton’s affiliate Rising Sun Management) as Japan’s most prolific activists, targeting…

On April 22, 2026, Anicom Holdings, Inc. formally announced that it has nominated Dalton Investments’ Director of Research, Shiro Hayashi, as a candidate for Outside Director of the company. The nomination will be submitted for shareholder approval at Anicom’s 26th Annual General Meeting, scheduled for June 2026…

Dalton Investments has submitted three shareholder proposals to Yakult Honsha Co., LTD (“Yakult”) aimed at enhancing the corporate value of the company. The shareholder proposals include: 1) Election of Two Outside Directors; 2) Increase of Restricted…

Dalton Investments announces that it has submitted a proposal aimed at further enhancing the corporate value of Senko Group Holdings (“Senko”) and is publishing materials explaining the details of the proposal…