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Nanahoshi Management Ltd.: Strengthen Wakamoto Activist Campaign (TOKYO:4512) Is Released

2024年03月19日 PM05:18
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TOKYO

Nanahoshi Management Ltd., a dedicated Japanese shareholder activist, today has launched a campaign website entitled “Strengthen Wakamoto: Wakamoto Pharmaceutical (TOKYO:4512) to increase shareholders’ value” as a shareholder.

https://www.strengthenwakamoto.com/english

The website serves to shed light on Wakamoto’s current challenges, proposed strategies to bolster shareholders’ value, and the status of ongoing dialogue. We anticipate that this resource will foster constructive conversations regarding the enhancement of shareholders’ value within WAKAMOTO PHARMACEUTICAL CO., LTD.

Key areas of focus include:

Enhancing ESG practices to reduce the cost of capital.

  • Addressing climate change risks associated with cross-shareholdings.
  • Improving transparency and responses regarding animal welfare.
  • Addressing concerns about excessive director appointments by its main bank, which is also a major shareholder.

Optimising capital efficiency.

  • The pharmaceutical business, which has a cumulative massive deficit, is being reviewed.
  • Facilitating the fair transfer of real estate for lease purposes.
  • Liquidating and divesting cross-shareholdings.

 

0.55x

 

Exceptionally low adjusted price-to-book ratio (PBR), factoring in after-tax unrealised gains from rental properties.

 

-7.3bn

 

A track record of the pharmaceutical business’s profit or loss that’s on par with its market capitalisation.

 

84%

 

Proportion of institutional investors against the appointment of the president.

 

1.3%

 

Post-tax earnings from rental properties that are markedly lower than the cost of capital.

 

76-77%

 

Proportion of cross-shareholdings pledged as collateral to banks and extremely high capital-to-assets ratio.

 

11years

 

Duration of tenure as representative director for the former chairman and president, who unexpectedly resigned due to personal reasons.

 

3.95bn

 

Allowing the separate reserve fund to build up in a disorganised fashion despite not issuing dividends for 7 out of 15 fiscal years.

 

-68%pt

 

Difference in total shareholder return between the Company and the TOPIX Net Total Return Index from the sudden resignation of the former Chairman and President (Jun.2022) to the current date.

About us:

Nanahoshi Management Ltd., under the stewardship of Satoru Matsuhashi, CFA and CESGA, champions ESG concerns and steers companies to enhance value for their shareholders through activism. Discover more about Nanahoshi Management Ltd. by visiting https://nanahoshimgmt.com/.

Details on the current activity for YSK (TOKYO:2812) are accessible at https://www.optimizeyaizu.com/english/.

In the UK, he established Nanahoshi Management UK Ltd. to further the cause of shareholder activism. For additional insights into the company, head over to https://nanahoshimgmt.co.uk/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240318205865/en/

CONTACT

Media Contacts:

Nanahoshi Management Ltd.

media@nanahoshimgmt.com

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