Latest news with #Taiyo
Business Times
02-07-2025
- Business
- Business Times
Management booted out as Japan's shareholders flex their muscles in AGMs
[TOKYO] Japan's annual general meetings in June saw a CEO voted out and an entire board of directors replaced in a sign shareholders are increasingly holding management to account and providing impetus to regulatory moves to boost corporate value and share prices. Authorities in Japan, which is emerging from years of deflation, have ramped up calls for more proactive and vocal shareholder stewardship over the last two years - and the AGMs suggest that activists and domestic institutional investors are making the same arguments to improve corporate performance. An increasingly assertive domestic shareholder base is likely to sway management changes, investors and advisors say, providing momentum to Tokyo Stock Exchange's quest to make the world's fourth-largest economy an attractive destination for international and domestic investment. Investors are already flocking in, with the TSE's reforms helping spark a rally in Japanese stocks, which last year scaled an all-time record high and have since been buoyant. Last month chemicals firm Taiyo Holdings' chief executive officer Eiji Sato and the entire board of directors of electrical parts maker Tokyo Cosmos Electric were forced to step down. 'It's extremely rare in Japan that a boss or a board member loses his job merely because he's deeply disappointing,' said Nicholas Smith, strategist at CLSA Securities. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Whereas in the past management has typically only been forced out in cases of misconduct or fraud, the prospect of ouster for perceived poor business decisions is prompting executives and the boards of companies to change course to meet shareholder demands. 'There's no aftermarket for dud managers. There's negligible mid-career hiring and these people are lifers at their companies so all of this is quietly terrifying,' Smith said. Taiyo CEO Sato was punished for diversifying into pharmaceuticals, which had poorer margins than its core business, dismissing privatisation proposals from private equity funds and because he was deemed to be overpaid, Smith said. 'This is one of the rare cases of a CEO being ousted for corporate governance reasons rather than legal ones,' said Seth Fischer, chief investment officer at activist investor Oasis Management, which voted against Sato. Taiyo's largest shareholder DIC Corp and founding family also voted against Sato, Tokyo Shoko Research showed. 'Now management can be voted out for not making any changes and other companies are moving towards needing to do something,' Fischer added. Aligning with activists Managers have cause for concern as domestic investors adopt more stringent shareholder voting guidelines in line with the TSE's reform recommendations, which has made voting against directors more commonplace. For instance, Sumitomo Mitsui Trust Asset Management's votes against management proposals in the 12 months ended June 2024 stood at 22.1 per cent, up from 19.8 per cent the year prior. Increasingly this means domestic asset managers vote in the same way as activists. 'There's more alignment between activists and domestic shareholders on capital policy which is leaving companies with nowhere to hide,' said Govinda Finn, a governance researcher at Kobe University. 'We have an incredibly good relationship with domestic investors and increasingly engage with them to share ideas about what we think the issues at companies are,' Fischer said. The new prospect of domestic investors voting against management has prompted firms to take preventative action, said Hiroo Shimoda, senior manager at MUFJ Trust and Banking, which advises firms on shareholder relations. 'More and more companies think it would be a real problem if their domestic shareholders and activists came to be in agreement, so they rework their strategies in advance,' Shimoda said. REUTERS
Zawya
18-04-2025
- Business
- Zawya
LMD launches 379-unit residential development in Dubai
LMD, a real estate developer with a diverse portfolio spanning the UAE, Egypt, Spain, and Greece, today (April 17) unveiled Taiyo Residences in Dubai during the International Property Show 2025. Built around the philosophy of light and space, the AED400 million ($109 million) residential development located at Wasl Gate is slated for handover in Q1 2028. Taiyo Residences features 379 well-designed units, including studios, one-, two- and three-bedroom apartments. The design impeccably blends both indoor and outdoor spaces, ensuring year-round comfort and convenience for residents, said the developer. A wide range of amenities is available to support every aspect of modern living, from fitness and wellness to recreation and relaxation. Residents can enjoy both indoor and outdoor gyms, a lap pool, a beach pool, and a kids' pool, a kids' area as well as an outdoor martial arts studio and a paddle court, it stated. According to LMD, the concept of 'Designed by Light' drives the architectural vision of the project, with every detail meticulously crafted to harness the power of natural illumination. Ascending with quiet confidence, Taiyo Residences' façade is an impressive display of thoroughly crafted elegance. Its subtle interplay of glass, steel, and earth tones hints at the bespoke world within, earning it the distinction of being a precursor to a curated lifestyle. Floor-to-ceiling windows reflect the changing hues of the sky, while spacious balconies in the distance extend an invitation to step out and soak in breathtaking panoramic views. This design approach fosters serene, tranquil living environments where light seamlessly integrates with space, enhancing the overall resident experience, it stated. On the launch, Managing Partner Hamad Al Abbar said: "Taiyo Residences goes beyond real estate. It's a lifestyle sculpted by light. We are thrilled to introduce a project that offers premium living spaces while fostering a sense of connection and community." "With its thoughtful design and integration of both outdoor and indoor amenities, Taiyo symbolizes our commitment to providing spaces that enhance both well-being and quality of life," he stated. For socializing and entertainment, the development offers a BBQ area, gaming lounge, table tennis, billiards, and a PlayStation zone. In addition, dedicated wellness spaces include co-working areas, a quiet zone, reading lounges, and a coffee bar, all designed to enhance the resident experience, said Al Abbar. Taiyo Residences offers excellent proximity to key destinations including Ibn Battuta Mall, Palm Jumeirah, Dubai Marina, and Mall of the Emirates, thus providing convenient access to shopping, entertainment, and leisure, he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
17-04-2025
- Business
- Trade Arabia
LMD unveils 379-unit residential development in Dubai
LMD, a real estate developer with a diverse portfolio spanning the UAE, Egypt, Spain, and Greece, today (April 17) unveiled Taiyo Residences in Dubai during the International Property Show 2025. Built around the philosophy of light and space, the AED400 million ($109 million) residential development located at Wasl Gate is slated for handover in Q1 2028. Taiyo Residences features 379 well-designed units, including studios, one-, two- and three-bedroom apartments. The design impeccably blends both indoor and outdoor spaces, ensuring year-round comfort and convenience for residents, said the developer. A wide range of amenities is available to support every aspect of modern living, from fitness and wellness to recreation and relaxation. Residents can enjoy both indoor and outdoor gyms, a lap pool, a beach pool, and a kids' pool, a kids' area as well as an outdoor martial arts studio and a paddle court, it stated. According to LMD, the concept of 'Designed by Light' drives the architectural vision of the project, with every detail meticulously crafted to harness the power of natural illumination. Ascending with quiet confidence, Taiyo Residences' façade is an impressive display of thoroughly crafted elegance. Its subtle interplay of glass, steel, and earth tones hints at the bespoke world within, earning it the distinction of being a precursor to a curated lifestyle. Floor-to-ceiling windows reflect the changing hues of the sky, while spacious balconies in the distance extend an invitation to step out and soak in breathtaking panoramic views. This design approach fosters serene, tranquil living environments where light seamlessly integrates with space, enhancing the overall resident experience, it stated. On the launch, Managing Partner Hamad Al Abbar said: "Taiyo Residences goes beyond real estate. It's a lifestyle sculpted by light. We are thrilled to introduce a project that offers premium living spaces while fostering a sense of connection and community." "With its thoughtful design and integration of both outdoor and indoor amenities, Taiyo symbolizes our commitment to providing spaces that enhance both well-being and quality of life," he stated. For socializing and entertainment, the development offers a BBQ area, gaming lounge, table tennis, billiards, and a PlayStation zone. In addition, dedicated wellness spaces include co-working areas, a quiet zone, reading lounges, and a coffee bar, all designed to enhance the resident experience, said Al Abbar.
Zawya
16-04-2025
- Business
- Zawya
LMD UAE launches AED 400mln Taiyo Residences in Dubai during International Property Show 2025
Dubai, UAE – LMD, a real estate developer with a diverse portfolio spanning the UAE, Egypt, Spain, and Greece, today unveiled Taiyo Residences in Dubai during the International Property Show 2025. Built around the philosophy of light and space, the AED 400 million residential development located at Wasl Gate is slated for handover in Q1 2028. The concept of "Designed by Light" drives the architectural vision of the project, with every detail meticulously crafted to harness the power of natural illumination. This design approach fosters serene, tranquil living environments where light seamlessly integrates with space, enhancing the overall resident experience. Commenting on the launch, Hamad Al Abbar, Managing Partner of LMD UAE stated: "Taiyo Residences goes beyond real estate. It's a lifestyle sculpted by light. We are thrilled to introduce a project that offers premium living spaces while fostering a sense of connection and community. With its thoughtful design and integration of both outdoor and indoor amenities, Taiyo symbolizes our commitment to providing spaces that enhance both well-being and quality of life." Taiyo Residences features 379 thoughtfully designed units, including studios, one-bedroom, two-bedroom, and three-bedroom apartments. The design impeccably blends both indoor and outdoor spaces, ensuring year-round comfort and convenience for residents. A wide range of amenities is available to support every aspect of modern living, from fitness and wellness to recreation and relaxation. Residents can enjoy state-of-the-art indoor and outdoor gyms, a lap pool, a beach pool, and a kids' pool, a kids' area as well as an outdoor martial arts studio and a paddle court. For socializing and entertainment, the development offers a BBQ area, gaming lounge, table tennis, billiards, and a PlayStation zone. In addition, dedicated wellness spaces include co-working areas, a quiet zone, reading lounges, and a coffee bar, all designed to enhance the resident experience. Taiyo Residences offers excellent proximity to key destinations. Residents can easily reach the Energy Metro Station, Festival Plaza, mosques and churches in just 2-5 minutes. For those driving, major attractions such as Ibn Battuta Mall, Palm Jumeirah, Dubai Marina, and Mall of the Emirates are just 5-10 minutes away, providing convenient access to shopping, entertainment, and leisure. Ascending with quiet confidence, Taiyo Residences' façade is an impressive display of thoroughly crafted elegance. Its subtle interplay of glass, steel, and earth tones hints at the bespoke world within, earning it the distinction of being a precursor to a curated lifestyle. Floor-to-ceiling windows reflect the changing hues of the sky, while spacious balconies in the distance extend an invitation to step out and soak in breathtaking panoramic views. Visit LMD UAE at the International Property Show 2025, Dubai World Trade Centre from April 14 to 16 — Sheikh Saeed Hall 2, Booth B40 — to explore Taiyo Residences and other projects. About LMD Founded in 2007, LMD has redefined the real estate landscape with transformative residential and commercial projects across Dubai, Egypt, Spain, and Greece. With a commitment to community-centric experiences and innovative design, LMD has taken conventional real estate norms to the next level, delivering iconic mixed-use developments and unparalleled living spaces. In 2011, LMD UAE was established to further elevate Dubai's real estate market, delivering projects such as Continental Tower, Rukan, Boutique XII, Marina Living, Boutique 23, La Boutique, and The Pier Residence. With over 3,379 units across Dubai, LMD UAE continues to set new standards of luxury living. For more information, please visit: For media enquiries, please contact: Keel Comms support@
