◆April 27th, 2026
Strategic Capital, Inc. (hereinafter referred to as “Strategic Capital”) is under a discretionary investment contract with INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (hereinafter referred to as the “Fund”) and the Fund and Strategic Capital (hereinafter referred to as “we”) hold approximately 9% of NORITAKE CO., LIMITED (hereinafter referred to as the “Company” or “NORITAKE”).
NORITAKE’s share price valuation has remained depressed over the long term and its PBR over the past 15 years has consistently underperformed the other companies in the Morimura Group as well as the TOPIX. The Company faces multiple capital efficiency and governance issues, including an excessively high shareholders’ equity ratio, the continued retention of unprofitable businesses, and delays in reducing cross-shareholdings.
We are pleased to announce that, in order to enhance shareholder value, we have notified the Company of our execution of the shareholders’ right to make a proposal at the annual shareholder meeting held in the coming June.
The details of the proposals and the reasons are as follows. For further details, please refer to the dedicated website (https://stracap.jp/english/5311-NORITAKE.pdf).
A brief detail of our proposal is as followings.
Shareholder Proposal to NORITAKE CO., LIMITED (5331) and the Launch of a Campaign Website
