RMB Capital Submits 3 Shareholder Proposals to Faith Inc
May 11, 2021 at 12:00 am EDT
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On May 11, 2021, RMB Capital announced that, it submitted three shareholder proposals to Faith Inc. at the AGM to address these issues and improve the Company’s shareholder value. The proposals are i.e. 1) Spin-off IPO of Nippon Columbia, RMB Capital proposes to distribute Nippon Columbia shares as a dividend in kind (spin-off) to existing shareholders and to list Nippon Columbia on the Tokyo Stock Exchange as an independent entity. 2) Aggressive share buyback, (RMB Capital proposes a share buyback program of up to 2 million shares and believes this program is feasible given the excessive cash amount at Faith Inc. And 3) Nominating an outside board member from RMB Capital RMB Capital believes Masakazu Hosomizu as an outside director who can work for shareholders to improve the shareholder value.
Faith,Inc. is a company mainly engaged in the contents business. The Company operates in three business segments. The Contents segment is engaged in the production of contents, the development and provision of delivery platform technology, the installment and operation of network systems, as well as the provision of contents delivery service to users. The Point segment is involved in the provision of point services. The Columbia segment is engaged in the planning, production and sale of sound source and videos, as well as the music copyright acquisition and management business. As of March 31, 2014, the Company had 16 subsidiaries and six associated companies.
FAITH, INC. 