Oasis Calls for Tokyo Dome EGM to Protect Value for All Stakeholders

• Oasis is a significant, long-term shareholder of Tokyo Dome, owning over 9.6%
• Oasis has engaged with Tokyo Dome since 2018 to help the Company improve its operations and profitability, yet shareholders have not seen any significant progress
• Oasis sent EGM request to Tokyo Dome on October 16, 2020
• Oasis calls for change in Tokyo Dome management to protect Tokyo Dome�s future

For more information, please see www.ABetterTokyoDome.com

HONG KONG & TOKYO–(BUSINESS WIRE)–Oasis Management Company Ltd. (“Oasis”) is the investment manager to funds that together are the largest shareholders of Tokyo Dome Corporation (9681 JP) (“Tokyo Dome” or the “Company”), owning over 9.6% of the Company.

In order to protect Tokyo Dome’s future and ensure its future growth for the benefit of all stakeholders, Oasis has called for an Extraordinary General Meeting (“EGM”) in order to replace Tokyo Dome’s president and two Board Directors who have been serving as external Directors for over 15 years. Subsequently, the Company announced it plans to hold the EGM in mid-December, with record date on November 11.

Oasis is committed to transforming Tokyo Dome into a world-class venue, and has repeatedly sought to engage with Tokyo Dome’s management in order to help improve the Company and specifically to take advantage of Covid-19-related venue closures to implement operational improvements to not only the Dome itself, but also the hotel, retail shops, and theme park — assets which were entirely ignored in the Company’s already underwhelming July “improvement plan” announcement.

The Company responded publicly on October 19, calling our request “bewildering”, but there is nothing to be confused about. Oasis has attempted to make its position and proposals clear to the Company time and time again over the last several months, without any commitment by Tokyo Dome to make any meaningful changes in a timely manner.

Unfortunately, despite Oasis’s best efforts at constructive engagement, and despite Oasis providing very detailed plans and vendor contact details to help Tokyo Dome execute on these proposals, Oasis’s proposals to date have been rebuffed, ignored, or delayed by Tokyo Dome’s President, Mr. Nagaoka, and the Company’s management. More broadly, Tokyo Dome’s current Board has failed to oversee any significant enhancements to the Dome or the fan experience over the past 30 years.

The Company’s president, Mr. Nagaoka, has failed over an extended period of time to utilize the Company’s assets effectively and extract the company’s intrinsic value. Oasis therefore believes he should be held responsible for the Company’s failures and is unsuitable for his Director position.

The external Directors that Oasis seeks to dismiss, Mr. Mori and Mr. Akiyama, have both been in their positions for over 15 years, and over this period have failed to fulfill their duties of oversight. Further, their lengthy tenures raise serious concerns as to corporate governance and their eligibility to continue serving as truly independent external directors.

The time for change is now. Tokyo Dome must take advantage of the unique opportunity presented by Covid-19 reduced event demand, as it may never see such a significant window of opportunity for carrying out these necessary changes again. At the AGM in April, Oasis plans to nominate new Board Directors who will work together to swiftly carry out significant business improvement plans, enhance corporate value, and improve Tokyo Dome for the benefit of all stakeholders, including fans, customers, lenders, employees, and shareholders.

Seth Fischer, Chief Investment Officer of Oasis, said:

“Oasis is committed to fostering the long-term growth of corporate value for Tokyo Dome. Tokyo Dome deserves a President and Board Directors who see the potential in its assets and will work to transform and expand the company into what it can be, and should be.”

Oasis urges all Tokyo Dome shareholders to review the full information on Oasis’s website at www.ABetterTokyoDome.com, which outlines our views on why shareholders should vote for Oasis’s proposals at the upcoming EGM in December. Together, we believe that we can stop the destructive force of the current Tokyo Dome management team and plant the seeds of a brighter, healthier future for Tokyo Dome and all its stakeholders.

Stakeholders are also encouraged to contact Oasis at info@abettertokyodome.com with questions, comments, or suggestions.

Oasis Management Company Ltd. manages private investment funds (the “Oasis Funds”) focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at https://oasiscm.com. Oasis has adopted the Japan FSA’s “Principles of Responsible Institutional Investors” (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with our investee companies. Oasis’ statements are intended only to offer useful information to shareholders on Oasis’ proposals put for resolution in the EGM so that shareholders are able to make well-informed voting decisions for a better Tokyo Dome. This material is not intended to solicit voting in favor of Oasis’ proposals, to which rules concerning solicitation of proxies applies. Similarly, Oasis is by no means soliciting or requesting shareholders to jointly exercise their voting rights together with Oasis. Oasis disclaims its intention to be treated as a Joint Holder with other shareholders under the Japanese Financial Instruments and Exchange Act by virtue of its act to express its view or opinion or other activities to engage in dialogue with other shareholders in or through this website. This statement and related materials exclusively represents the opinions, interpretations, and estimates of Oasis in relation to the upcoming EGM. Oasis is expressing those opinions solely in its capacity as an investment advisor to the Oasis Funds.

Contacts

Media Contacts:

Taylor Hall

media@oasiscm.com

Dan Underwood

oasisac@ashton.jp