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Letters to Management

Letters to Management

Settlement of the action to pursue liability for damages against former Representative Director etc. of SEIKITOKYU KOGYO CO., LTD. (1898)

◆June 23rd, 2023

The fund managed by Strategic Capital, Inc. (“the Fund”) is shareholder of SEIKITOKYU KOGYO CO., LTD. (“the Company”).
As stated in the December 18, 2020, Press Release titled “Action to pursue liability for damages against Representative Directors etc. of SEIKITOKYU KOGYO CO., LTD. (1898)”, the Fund filed a shareholder lawsuit against four directors and former directors of the Company (“the Directors”) with the Tokyo District Court.  After a ruling in favor of the plaintiff’s claims, followed by the Tokyo High Court dismissing the defendants appeal on January 26, 2023, the Directors filed an appeal with the Supreme Court.  We would like to announce that on June 22, 2023, a settlement was reached between the Fund, the Company and the Directors at the Tokyo High Court.

See Settlement of the action to pursue liability for damages against former Representative Director etc. of SEIKITOKYU KOGYO CO., LTD. (1898) for more details.

◆January 27th, 2023

Strategic Capital, Inc. is under a discretionary investment management contract with INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (“Fund”) and is a shareholder of SEIKITOKYU KOGYO CO., LTD. (“Seikitokyu”).
We would like to announce that on January 26th, 2023, the Tokyo High Court upheld the Fund’s claim and dismissed the appeal by the defendants.

See Ruling of the Tokyo High Court on the action to pursue liability for damages against Representative Directors etc. of SEIKITOKYU KOGYO CO., LTD. (1898)-2 for more details.

◆March 29th, 2022

Strategic Capital, Inc. is under a discretionary investment management contract with INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (“Fund”) and is a shareholder of SEIKITOKYU KOGYO CO., LTD. (“Seikitokyu”).

As stated in the December 18, 2020, Press Release titled “Action to pursue liability for damages against Representative Directors etc. of SEIKITOKYU KOGYO CO., LTD. (1898)”, on December 18, 2020, the Fund filed a shareholder lawsuit against four directors and former directors of Seikitokyu named below. We would like to announce that on March 28, 2022, the Tokyo District Court ruled in favor of the plaintiff’s claims.

Ruling of the Tokyo District Court on the action to pursue liability for damages against Representative Directors etc. of SEIKITOKYU KOGYO CO., LTD. (1898)

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