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Oasis Urges Tokyo Steel Shareholders to Vote AGAINST President Nara and Director Tsuda at 2026 AGM (Securities Code: 5423 JT)
HONG KONG, May 18, 2026--Oasis Management Company Ltd. ("Oasis") is the manager to funds that beneficially own approximately 8.7% of Tokyo Steel Manufacturing Co., Ltd. ("Tokyo Steel" or the "Company"). Oasis has adopted the Japan FSA’s Principles for Responsible Institutional Investors (a/k/a the Japan Stewardship Code) and, in line with those principles, Oasis monitors and engages with its investee companies.
About this update from Tokyo Steel Manufacturing Co., Ltd.
[{"type":"text","content":"*Tokyo Steel’s capital efficiency and plant utilization rates remain at low levels, while management has failed to take effective measures to address these structural issues. The Company has also recorded significant impairment losses and repeatedly revised down earnings forecasts over the past three fiscal years, raising serious concerns regarding management credibility and earnings visibility","length":397,"tagName":"p","attribs":{}},{"type":"text","content":"*Oasis urges shareholders to vote AGAINST the re-election of President Nara and the election of Mr. Tsuda as a director at the upcoming 2026 AGM","length":144,"tagName":"p","attribs":{}},{"type":"text","content":"* Oasis has published specific strategic recommendations, including proposals for the effective utilization of the Company’s assets, aimed at significantly improving Tokyo Steel’s corporate value and capital efficiency","length":218,"tagName":"p","attribs":{}},{"type":"text","content":"*Oasis’s plan calls on Tokyo Steel to use underutilized steel plants as data centers to spur growth","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"*Oasis sees at least 115% stock upside through improving ROE from 2.9% to 8% and PBR from 0.5x to 1.4x within 3 years","length":117,"tagName":"p","attribs":{}},{"type":"text","content":"More information available at www.ABetterTokyoSteel.com","length":55,"tagName":"p","attribs":{}},{"type":"text","content":"HONG KONG, May 18, 2026--(BUSINESS WIRE)--Oasis Management Company Ltd. ("Oasis") is the manager to funds that beneficially own approximately 8.7% of Tokyo Steel Manufacturing Co., Ltd. ("Tokyo Steel" or the "Company"). Oasis has adopted the Japan FSA’s Principles for Responsible Institutional Investors (a/k/a the Japan Stewardship Code) and, in line with those principles, Oasis monitors and engages with its investee companies.","length":461,"tagName":"p"},{"type":"text","content":"Oasis has engaged continuously with Tokyo Steel as a long-term shareholder. Through its dialogue with the Company, Oasis has urged Tokyo Steel to improve its persistently low capital efficiency, review its excessive production capacity, and establish a clear capital allocation policy. However, these proposals have not been sufficiently implemented, and the Company’s low profitability structure and weak capit...