Fujitec said, “There is no problem with the transaction,” but it was an unusual situation to withdraw Mr. Uchiyama’s reappointment proposal just before the general meeting.
Fujitec has set up a third-party committee and is proceeding with the investigation, but following Mr. Uchiyama left the board, he became chairman and remained in the company, further intensifying the conflict between the two.
Fujitec said that Mr. Uchiyama’s appointment as chairman was “a measure to minimize the impact on the business,” and Mr. Uchiyama did not participate in the board of directors, etc., and gave advice related to the business as necessary. and insists that it has no direct involvement in management.
On the other hand, “Oasis” was in a situation to request that all the outside directors be replaced, saying that the outside director’s approval of Mr. Uchiyama’s appointment as chairman did not fulfill his supervisory responsibility.
Three of the five outside directors were dismissed this time, but it is extremely unusual for an outside director to be dismissed at the suggestion of a shareholder.
Of the 9 members of Fujitec’s board of directors, 5 are elected by the company and 4 are elected by the fund. Management confusion is expected to deepen.
