On December 16, 2024, Oasis Management Company Ltd announced that it disputed Kao Corporation's recent statements, claiming that it mischaracterized the engagement level with Oasis and obscured key corporate governance issues ahead of the 2025 Annual General Meeting. Oasis highlighted significant governance deficiencies, inadequate transparency, and a lack of accountability from the Company. Oasis stated that despite proposing qualified candidates for the Company?s Board of Directors, the Nomination Committee has not engaged meaningfully or clarified its selection process.
The early announcement of director nominees for the AGM seems to bypass shareholder input. Additionally, the Company?s vague explanation of recent governance changes, including a major delegation of authority to management, raises concerns about transparency and shareholder engagement, further eroding confidence in its governance practices and commitment to long-term value creation.
