Both ISS and Glass Lewis Recommend Shareholders Vote AGAINST Keisei President Toshiya Kobayashi, Endorsing Palliser's Call for Governance Reform
Palliser Capital ('Palliser'), one of the largest shareholders of Keisei Electric Railway Co., Ltd. (9009 JT) ('Keisei' or the 'Company') with a shareholding over 4.5%, today welcomed the recommendations by ISS and Glass Lewis that shareholders vote AGAINST the re-election of current President Toshiya Kobayashi and other directors at the Company's upcoming Annual General Meeting on June 27, 2025.
Both ISS and Glass Lewis echoed serious concerns with Keisei's governance practices in their research reports, citing:
ISS concluded that 'Palliser has made a compelling case that a governance overhaul at Keisei is necessary to restore trust in management', while Glass Lewis concluded that withholding support for Toshiya Kobayashi would serve as a 'measured signal to prompt meaningful improvements in Keisei's governance and transparency practices.'
James Smith, Founder and Chief Investment Officer of Palliser, commented:
'ISS and Glass Lewis' recommendations validate our concerns and underscore the importance of holding leadership accountable. We urge shareholders to vote against current President Toshiya Kobayashi, outside directors Shotaro Tochigi, Misao Kikuchi, and Takako Amitani, and proposed new inside directors Kunihiko Yoshikawa and Takeshi Hashimoto.'
Full details relating to Palliser's ongoing engagement are available atKEISEI100.com
About Palliser Capital
Palliser Capital is a global multi-strategy fund. Our value-oriented investment philosophy is applied to a broad range of opportunities across the capital structure with a focus on situations where positive change and value enhancement can be achieved through thoughtful, constructive and long-term engagement with companies and across a range of different stakeholder groups. Palliser Capital is one of the largest Keisei shareholders with a stake in excess of 4.5%.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250615631940/en/
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SOURCE: Palliser Capital
Copyright Business Wire 2025.
PUB: 06/15/2025 07:00 PM/DISC: 06/15/2025 07:04 PM
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