Oasis issues response to Fujitec investigation report

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HONG KONG AND TOKYO–(BUSINESS WIRE)–Oasis Management Company Ltd. (“Oasis”) is the manager of funds which own more than 9.7% of Fujitec Co. Ltd. (“Fujitec” or the “Company”).

Oasis has posted its full response to Fujitec’s investigation report on its website at https://protectfujitec.com/oasisresponse

Far from absolving Chairman Uchiyama, Fujitec’s investigation report validates the facts raised by Oasis, provides new details on related party transactions and abuses of governance perpetrated by Chairman Uchiyama, and demonstrates Chairman Uchiyama’s efforts to enrich themselves at the expense of Fujitec and its other shareholders. Moreover, we are shocked by the speed and superficial nature of the investigation. These new details fill in the gaps and paint a picture of Fujitec’s poor governance, all stemming from Chairman Uchiyama, and support Oasis’ claim that shareholders should vote against Chairman Uchiyama at the next AGM because he is unfit to be a director of Fujitec after years of corporate governance abuses.

Based on this superficial and flawed investigation, Fujitec’s Board of Directors concluded that there were no legal or corporate governance issues related to Fujitec’s related party transactions. Shareholders should not be so easily fooled and should vote against Chairman Uchiyama at the next Annual General Meeting to finally end the abuse.

To see Oasis’ detailed response, including questions shareholders can ask the company, please visit: https://protectfujitec.com/oasisresponse

Oasis is committed to a better and more profitable Fujitec. We firmly believe that the best way forward for Fujitec is a Fujitec free from abuse of power by the Uchiyama family.

All shareholders are expected to vote against reappointing Chairman Takakazu Uchiyama at the next AGM. For more information and full presentation details in English and Japanese, please see: www.protectfujitec.com.

We invite all stakeholders to contact us at: [email protected]

About Oasis

Oasis Management Company Ltd. manages opportunity-focused private equity funds in a wide range of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the company as Chief Investment Officer. More information about Oasis is available at https://oasiscm.com. Oasis has adopted the Japan FSA’s “Principles for Responsible Institutional Investors” (aka Japan Stewardship Code) and, in accordance with these principles, Oasis monitors and engages with our beneficiary companies.

Disclaimer

The information contained in this press release (referred to as the “Document”) is an information resource for Fujitec shareholders provided by Oasis, the investment manager of funds that are shareholders of Fujitec (the “Oasis Funds”) .

The Document is not intended to solicit or seek shareholder agreements to jointly exercise voting rights with Oasis. Shareholders who have entered into an agreement to jointly exercise their voting rights are considered co-holders under Japan’s significant shareholding disclosure rules and they must file a notification of their total shareholding with the relevant Japanese authority for disclosure. public under the Financial Instruments and Exchanges Act. Oasis does not intend to be subject to any such notification obligation. The Document represents solely the opinions, interpretations and estimates of Oasis.

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