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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 of Bunka Shutter Co., Ltd. (“Bunka Shutter” or the “Company”), . . . . . .

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Our Views on the Proposal by ASKA Pharmaceutical Holdings Co., Ltd. to Activate Countermeasures

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... . . .

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Proposal to Bunka Shutter – Please Don’t Close the Shutter on Shareholders

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... . . .

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Dalton Investments and Nippon Active Value Fund Recognized as Japan’s Most Prolific Activists

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... . . .

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Asian Owner-Operators and the AI Inflection Point

The shift to “agentic” AI, meaning AI that can act — not just respond – means we have reached a major inflection point. Rather than simply answering questions, an agentic AI system can independently plan and carry out complex, multi-step tasks in the real world... . . .

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Anicom Holdings Announces Nomination of Shiro Hayashi as Outside Director Candidate

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... . . .

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Proposal to Yakult – Publication of Explanatory Materials

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... . . .

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Big Changes Coming to Korea

Korea’s equity market is at a potential inflection point. Following a strong KOSPI rally, President Lee is pushing major reforms to address the “Korea discount,” strengthen corporate governance, protect shareholders, and attract domestic and foreign capital. If successful, these reforms could unlock... . . .

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Proposal to Senko – Publication of Explanatory Materials

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... . . .

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Results of Shareholder Proposals at Ezaki Glico’s Annual General Meeting of Shareholders

Based on Ezaki Glico’s disclosed voting results and approval ratios from the Annual General Meeting of Shareholders, we are issuing our views on the outcomes of this AGM, including the shareholder proposals submitted by Dalton Investments... . . .

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NEWS

Dalton Investments’ engagement with Korean company TK Corp (Taekwang) was featured in leading Korean business newspaper Maeil Business Newspaper

Posted March 17, 2026

Following engagement from Dalton, the company announced an increase in its shareholder return (buybacks and dividends) to 45% of net income per annum for the next three years, marking a significant increase from the 30% shareholder return outlined…

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INSIGHTS

Asian Owner-Operators and the AI Inflection Point

Posted April 28, 2026

The shift to “agentic” AI, meaning AI that can act — not just respond – means we have reached a major inflection point. Rather than simply answering questions, an agentic AI system can independently plan and carry out complex, multi-step tasks in the real world…

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ENGAGEMENT IN
JAPAN

Glass Lewis Recommends Vote AGAINST Bunka Shutter Proposal No. 4

Posted June 4, 2026

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 of Bunka Shutter Co., Ltd. (“Bunka Shutter” or the “Company”), . . .

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