On April 24, 2024, Nihon Global Growth Partners Management Inc. (NHGGP) announced that it has submitted 4 shareholder proposals: (1) increase dividend payout ratio to 40%, (2) repurchase JPY20 billion of Toyo Suisan Kaisha Ltd.?s shares, (3) implement a management stock compensation program, and (4) disclose its cost of capital, for consideration at the Company?s upcoming 2024 general shareholders? meeting. NHGGP also released an investor presentation outlining how their proposals can help the Company.

The presentation also highlights that the Company can unlock significant value by focusing on its core instant noodle business, selling or spinning off its refrigerated warehouse business, and exiting its legacy processed food and seafood trading businesses.