On May 21, 2025, Fuji Media Holdings, Inc. addressed a shareholder proposal from NIPPON ACTIVE VALUE FUND dated April 16, 2025, concerning the election of directors. Following the initial proposal, the company received a document on April 23 regarding the "Replacement of Candidates" and a supplementary explanation on May 8, clarifying that all candidates were "non-audit committee director" candidates. However, on May 19, the Proposing Shareholder submitted a request to change three of the non-audit committee director candidates to audit committee director candidates, which the company deemed a new shareholder proposal and a partial withdrawal of the existing proposal.
As the deadline for shareholder proposals was April 30, any submissions after this date are considered invalid under Company Law. Consequently, Fuji Media Holdings, Inc. will not accept the partial withdrawal of the existing proposal and will treat the new proposal as legally non-viable. The company emphasized its commitment to shareholder rights while adhering to legal frameworks and regulations.
