Rohto Pharmaceutical chairman faces AVI proposal to step down

2 articles · Updated · Bloomberg · Apr 30

Asset Value Investors, a UK fund with about a 2% stake, said Osaka-based Rohto chairman Kunio Yamada should leave the board.
AVI said it submitted the shareholder proposal because Yamada's actions were distorting the Japanese drugmaker's corporate governance.
The motion, AVI's first since it began investing in 2024, will go to Rohto's annual shareholder meeting in June, underscoring continued activist pressure on Japanese companies.

With only a 2% stake, can a UK fund really oust the chairman of a major Japanese drugmaker?

As activists target Japanese firms, will a corporate backlash succeed in shutting them out?