Bando Chemical Industries Announces the Voting Results
June 29, 2023 at 12:00 am EDT
Share
On June 29, 2023 Bando Chemical Industries announces the voting results of the 100th Ordinary General Meeting of Shareholders, accordingly the shareholder proposals submitted by Nippon Active Value Fund regarding 1: Approval of remuneration amount related to restricted stock compensation plan, 2: Acquisition of treasury stock: within one year, the Company shall acquire common shares of the Company up to a total of 4,415,823 shares and a total acquisition price of 4,636,614,150 yen by delivering cash and 3: Amendments to the Articles of Incorporation, Outside directors should make up a majority of the company?s directors, were not approved by the shareholder of the Company.
Bando Chemical Industries, Ltd. is a company mainly engaged in the manufacture and sale of automotive parts, industrial materials and high performance elastomer products. The Company operates through three segments. Its Automotive Parts segment involves in the manufacture and sale of transmission belt products for automobiles and motorcycles. Industrial Materials segment is engaged in the manufacture and sale of general industrial transmission belt products, other transmission products, carrying belt, transportation system products, and razor rolls. Its High Performance Elastomer Products segment is involved in the manufacture and sale of cleaning blade, high function roller and precision belt, among others. In addition, it is also engaged in the robot related business, import and export business, real estate business, insurance agency business and photovoltaic power generation business, among others.