Dialogue with Kyokuto | 極東貿易株式会社 2020
会社概要
If our proposals are approved and Kyokuto continues 100% payout ratio, the estimated share price is;
>JPY 3,000(*)
*Calculation based on dividend yield. Please find the detail of calculation in “our shareholder proposals”.

Dialogue with Kyokuto

In order to increase shareholder value, Strategic Capital has engaged in continuous dialogue with the Company. In addition to dialogue with management, we conveyed our opinions in writing.

Opinions expressed in writing sent March 2020

・ To make the Company stock more attractive and become listed on the upcoming Prime market, adopt a 100% payout ratio as a capital policy.
・ Do not leave the low valuation of the Company such as PBR below 0.3x. Take action to improve the low PBR. Example, strengthen shareholder returns through special dividends.

  Letter in Japanese

Opinions expressed in writing sent February 2019

・ If you want to include the adviser of IHI (a business partner) as a board director, then make him a candidate as a part-time director rather than an independent outside director.
・ The independence of longtime outside directors cannot be ensured, so identify the appropriate candidate for the appropriate roles and deliberate at the AGM.

  Letter in Japanese

Opinions expressed in writing sent December 2018

・ Seriously deal with the decline in the stock price.
・ We expect the management of the Company to make the rational decision to start share buybacks.

  Letter in Japanese

Opinions expressed in writing sent October 2018

・ Improve EV / EBITDA ratio etc. by share buybacks.
・ Rather than having an excessive number of listed shares of other companies, buy back the shares of the Company and cancel them.

  Letter in Japanese

Opinions expressed in writing sent August 2018

・ Do not leave the low valuation of the Company such as PBR below 0.5x. Take action to improve the low PBR.
・ How share buybacks can send a strong positive message to the markets where stock price is falling.

  Letter in Japanese

  • 株式会社ストラテジックキャピタル
 

This website is for AGM in 2020. Please find our latest proposal in 2021 here.

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