CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), a Chicago-based independent investment advisory firm, is a long-term shareholder of Sanyo Shokai Ltd. (8011 JP, “Sanyo”) and owns more than 6% of the firm’s total outstanding shares.

The official disclosure from the 77^th annual general shareholders meeting held at Sanyo on May 26, 2020 revealed that approximately 30% of the shareholders supported RMB’s board nominees, Mr. Tetsuo Komori and Mr. Masakazu Hosomizu, while rejecting the former president Mr. Masayuki Nakayama. It was clear that the general shareholders took a harsh view of Sanyo’s executives who are accountable for the company’s poor performance. Against this backdrop, RMB believes the new management team, led by Mr. Shinji Oe, should further accelerate the speed of the reform initiatives. Also, key Sanyo shareholders and trade partners, including Mitsui & Co, Yagi Tsusho, and Isetan Mitsukoshi, who RMB believes were supportive of management’s board slate, are now responsible for stepping forward and supporting Sanyo proactively so that the executive team can achieve its turnaround plan. RMB hopes all stakeholders collectively support Sanyo’s turnaround going forward.

Please refer to Sanyo Shokai Activism for RMB’s past press releases on this topic.

About RMB Capital

Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.

Contacts

Media Contact:

Masakazu Hosomizu

RMB Capital

[email protected]