Sekisui House Shareholders’ Meeting – Postponement Requested

Nikkei

April 18, 2020

 

Nikkei has learned on April 17, 2020 that the shareholders making a shareholder proposal filed a provisional disposition to the Osaka District Court requesting that the ordinary meeting of shareholders of Sekisui House to be held on April 23, 2020 be postponed.   It is due to the spread of the coronavirus, and they have argued that it can be postponed.

 

The shareholders are seeking to replace the current board.  The company recently received a notice from a hotel in Osaka, where the meeting is scheduled to be held, saying it would not be able to provide a conference room, and the company reported to shareholders on April 15, 2020 that it would change the meeting location to an adjacent office building.  In this regard, incumbent Director Fumiyasu Suguro, who is one of the shareholders making the shareholder proposal, said there were “some deficiencies in the meeting arrangements."

 

Sekisui House has indicated that it intends to hold the meeting as planned, saying that "if the meeting is postponed, there is a risk of a significant impact on the interests of shareholders and business management."