On May 7, 2024, NHK Spring Co., Ltd., announced in its press release that it had received a shareholder proposal from Longchamp SICAV for its 104th Annual General Meeting of Shareholders. The proposal is as follows - i) Approval of compensation amount for restricted stock compensation plan. The company has opposed the proposal stating that the proposal is not appropriate as it is an excessive stock compensation plan that deviates from the company?s basic policy on directors?
compensation and lacks balance between basic compensation, bonuses as performance-linked compensation, and stock compensation as non-monetary compensation.
NHK SPRING CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of suspension springs, seat products and automobile-related products. It has four business segments. The Suspension Springs segment manufactures and sells coil springs, board springs, stabilizers, torsion bars, stabilizer links, bellows, and stabilizer linkers. The Seating segment offers automobile seats, seat-related products, as well as interior equipment. The Precision Component segment offers suspensions for hard disk drives (HDDs), mechanism parts for HDDs, wire springs, lamella springs, probe units for liquid crystal and semiconductor checking, as well as precision processed goods. The Industrial Equipment segment manufactures and sells brazing goods, ceramic products, spring mechanism goods, piping support installations, parking systems, polyurethane products, security products, lighting apparatus and golf shafts and others.
NHK SPRING CO., LTD. 
