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RMB Capital’s Shareholder Proposal (Share Buyback) Gained 11% Support at Nishikawa’s Annual General Shareholders Meeting

RMB Capital ("RMB"), a Chicago-based independent investment advisory firm, is a long-term shareholder of Nishikawa Rubber Industry Co., Ltd. (5161 JP, "Nishikawa") and owns approximately 2% of the firm’s total outstanding shares.

RMB had filed a shareholder proposal (Proposal #6) for Nishikawa’s 71st annual general shareholders meeting, held on June 25, 2020, to buy back common stock of 88,000 shares, maximum 100 million yen. Despite the limited number of minority shareholders at the firm, RMB’s proposal gained 10.52% support from attending shareholders. In addition, 10.89% of attending shareholders voted against the continuation of the "poison pill" proposed by the management (item #5), along with RMB’s opposition.

RMB intends to keep engaging with Nishikawa’s management to improve the shareholder value.

About RMB Capital

Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200708005909/en/

Contacts

Masakazu Hosomizu
RMB Capital
japan@rmbcap.com