Oasis Issues Response to Fujitec Investigation Report

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06/03/2022 - 03:21 AM

More information available at www.ProtectFujitec.com

HONG KONG & TOKYO--(BUSINESS WIRE)-- Oasis Management Company Ltd. (“Oasis”) is the manager to funds that own over 9.7% of Fujitec Co. Ltd. (“Fujitec” or the “Company).

Oasis has published its full response to Fujitec’s Investigation Report on its website at https://protectfujitec.com/oasisresponse

Far from absolving President Uchiyama, the Fujitec Investigation Report validates the facts raised by Oasis, provides new details about the related-party transactions and governance abuses perpetrated by President Uchiyama, and demonstrates President Uchiyama’s efforts to enrich himself at the expense of Fujitec and its other shareholders. Moreover, we are shocked by the speed and superficial nature of the investigation. These new details fill in gaps and paint a picture of poor governance at Fujitec, all stemming from President Uchiyama, and support Oasis’ assertion that shareholders should vote against President Uchiyama at the next AGM, as he is unfit to be a director of Fujitec after years of corporate governance abuses.

Based on this superficial and flawed investigation, Fujitec’s Board of Directors have concluded that there are no legal or corporate governance issues related to Fujitec’s related-party transactions. Shareholders should not be as easily fooled, and should vote against President Uchiyama at the upcoming AGM to finally stop the abuses.

To see Oasis’s detailed response, including questions for shareholders to ask the company, please visit: https://protectfujitec.com/oasisresponse

Oasis is committed to a better and more profitable Fujitec. We strongly believe the best path forward for Fujitec is a Fujitec free of abuse of power by the Uchiyama family.

All shareholders should vote against President Takakazu Uchiyama’s reappointment at the upcoming AGM. For more information and full presentation details in English and Japanese, please see: www.protectfujitec.com.

We welcome all stakeholders to contact us at: info@ProtectFujitec.com.

About Oasis

Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at https://oasiscm.com. Oasis has adopted the Japan FSA’s “Principles for Responsible Institutional Investors” (a/k/a Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with our investee companies.

Disclaimer

The information contained in this press release (referred to as the "Document") is an information resource for shareholders in Fujitec offered by Oasis, the investment manager to funds that are shareholders of Fujitec (the "Oasis Funds").

The Document is not intended to solicit or seek shareholders' agreements to jointly exercise voting rights with Oasis. Shareholders that have an agreement to jointly exercise their voting rights are regarded as Joint Holders under the Japanese large shareholding disclosure rules and they must file notification of their aggregate share ownership with the relevant Japanese authority for public disclosure under the Financial Instruments and Exchange Act. Oasis does not intend to be subjected to such notification requirement. The Document exclusively represents the opinions, interpretations, and estimates of Oasis.