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Kyocera Activism Tests Leadership, Buyback Push And Valuation At Elevated P/E
Oasis Management, a significant shareholder in Kyocera, has filed proposals ahead of the upcoming AGM seeking major changes to leadership and capital allocation.
The fund is calling for a JPY 350b share buyback and the removal of Chairman Goro Yamaguchi.
Oasis is also pushing for the appointment of a new external director, citing what it describes as long running governance concerns and underperformance.
Proxy advisors ISS and Glass Lewis have previously recommended votes against the...