On July 31, 2023, Oasis Management Company Ltd announced that it has urged the shareholders of Kusuri No Aoki Holdings Co Ltd to hold the Aoki family leadership accountable at the 2023 Annual General Meeting of Shareholders for a tenure of neglect of stakeholder interests, under their leadership, Company has experienced several governance breaches, including a stock option issued to President Hironori Aoki and Vice President Takanori Aoki granting them the right to buy approximately JPY24bn of shares for JPY52.5mn, while the Company?s disclosures state the options were worth JPY7.256b, and the stock options were issued shortly after the Company made unusual downward revisions to forecasts, significantly changing the stock price. In addition, Oasis Management urged the shareholders of the Company to vote against the re-election of Hironori Aoki, Takanori Aoki, election of Hiromitsu Fujii, and urged the Company shareholders to vote for its board nominee Yoshiaki Ike, introduction of a lead independent director position and the establishment of a nomination, compensation committee to enhance oversight of management, and introduction of a new compensation plan for outside directors, at the 2023 annual meeting of shareholders.