Nippon Active Value Fund Submits Shareholder Proposal to Teikoku Electric
March 31, 2022 at 12:00 am EDT
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On March 31, 2022, Nippon Active Value Fund plc announced that it has submitted a notification with the purpose of give advice to the management, and make important proposals depending on the situation. In particular, the Nippon Active Value Fund believes that the Teikoku Electric Mfg.Co.,Ltd.'s financial health and market position are not reflected in its share price and need to discuss ways to increase its share value for all shareholders. In some cases, the Company's management may be required to have a dialogue for the purpose of doing so.
TEIKOKU ELECTRIC MFG. CO., LTD. is a Japan-based manufacturer of pumps and electronic parts. The Company operates in two business segments. The Pumps segment manufactures and sells motor pumps for chemicals including chemical machine motor pumps, liquefied petroleum gas (LPG) machine motor pumps, cooling machine and air-conditioner motor pumps, as well as motor pumps for machines other than chemicals including semiconductor motor pumps and electricity-related machine motor pumps. The Electronic Parts segment is engaged in the manufacture and sale of automobile electronic components including control units and automobile electronics, as well as industrial machine circuit boards including sequencer circuit boards. The other business includes the provision of special equipment, health products and staffing services.