On February 13, 2026 Ezaki Glico announced a JPY 25 billion share buyback (7.23% of its outstanding shares) and indicated that all repurchased shares will be cancelled. While this is a positive step, it falls short of the 10% buyback proposed by Dalton; therefore our shareholder proposal remains in place.
Dalton’s proposal includes: (1) the election of Outside Directors, (2) a 10% share buyback, (3) expansion of the restricted stock compensation plan, and (4) an amendment to the Articles of Incorporation in line with the TSE’s request.
In response to the company’s recent announcement, please see the full presentation here for a detailed explanation of our proposals and rationale.