Dai Nippon Printing Co., Ltd Opposes Nomination by Monex Asset Management, Inc.
May 13, 2024 at 12:00 am EDT
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On May 13, 2024, Dai Nippon Printing Co., Ltd, announced in its press release that it had received a shareholder proposal from Monex Asset Management, Inc. for its 130th Annual General Meeting of Shareholders. The proposal is as follows, i) Appointment of Director: Appointment of Mr. Ken Kusunoki as an outside director. The company has opposed the proposal stating that from the perspective of the effectiveness of the Board of Directors, the candidate for the shareholder proposal is not expected to make a sufficient contribution to the sustainable growth of the Company and the enhancement of its corporate value over the medium to long term.
Further, the company is not convinced that the candidate will contribute to increasing the independence and diversity of the Board of Directors of the Company.
Dai Nippon Printing Co. specializes in printing services. Net sales break down by activity as follows:
- printing of cards, books and business documents (54.1%): microchips, plastic cards, books, magazines, catalogs, administrative forms, brochures, indices, etc.;
- printing of flexible packages and decorative coatings (28.2%): bags, bottles, cardboard boxes, paint papers, wood and metal engraved plates, etc. The group also produces and sells optic films, ink ribbons, etc.;
- manufacturing of electronic components (13.7%): semiconductors components, photolithography masks, projection screens, protection filters for screens, color printers components, etc.;
- production of beverages (4%).
Net sales are distributed geographically as follows: Japan (83%), Asia (10.6%) and other (5.4%).
DAI NIPPON PRINTING CO., LTD. 
