Kadokawa will face a key shareholder vote at Wednesday’s annual general meeting after Hong Kong-based activist investor Oasis Management called for the removal of chief executive Takeshi Natsuno, according to RTHK.
Oasis said it is Kadokawa’s largest shareholder with a 13.76% stake and has engaged with the company since 2020. Proxy advisers Institutional Shareholder Services and Glass Lewis recommended shareholders vote against Kadokawa’s proposal to re-elect Natsuno and support Oasis’s proposal, the activist said.
Natsuno, CEO since 2021, has been criticised over declining profitability and for failing to capitalise on the success of the “Elden Ring” franchise. Oasis said Kadokawa’s publishing arrangement for the game has led to “material profit leakage.” Kadokawa’s board has backed Natsuno, saying his removal would create uncertainty as the company carries out reforms.
Kadokawa reported return on equity of 0.5% last year, compared with 9.4% in the year ended March 2022. In May, it reported annual operating profit that undershot its forecast despite an earlier downward revision.
Oasis is also seeking the resignation of Kyocera chairman Goro Yamaguchi at the electronics maker’s Thursday shareholder meeting, after arguing the company should divest unprofitable businesses.
STOCKS | Kadokawa Faces CEO Showdown With Hong Kong Activist Oasis at AGM
2026-06-23 07:43:17
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