On May 12, 2026, Osaka Steel Co., Ltd., announced that it had received written notice from Intertrust Trustees (Cayman) Limited Solely in its Capacity as Trustee of Japan-Up and Strategic Capital Inc., stating their intention to submit shareholder proposals for the agenda of the 48th Annual General Meeting of Shareholders scheduled for June 24, 2026. The proposals included ?Acquisition of treasury shares from specific shareholders? and ?Disposal of surplus.?
The Board of Directors resolved to oppose both proposals. For the ?Acquisition of treasury shares from specific shareholders,? the Board cited the abusive nature of the proposal, lack of fairness and transparency, excessive cash outflow, and potential major adverse impact on business operations, noting that the proposal would result in Osaka Steel acquiring all shares held by Nippon Steel, its parent company, and significantly alter management control.
For the ?Disposal of surplus,? the Board argued that the proposal?s short-term focus on changing the dividend policy to DOE 8% would hinder the sustainability and growth of the business, and does not contribute to the medium- to long-term enhancement of corporate value or shareholder interests. The Board urged shareholders to reject both proposals, emphasizing the importance of maintaining a robust financial base and long-term stability.
AloJapan.com