Daily Brief Japan: Cosmo Energy Holdings, FUJIFILM Holdings, Frontier Management Inc, Tokyo Stock Exchange Tokyo Price Index Topix and more

In today’s briefing:

Cosmo Energy (5021) In a Display of Stunningly Bad Governance; If You Disagree, You Can’t Vote
FUJIFILM (4901.T) Loving The Setup Here
Frontier Management Inc. (7038 JP) – 1Q Follow-Up
Behind the Issue of Population Decline Is Also the Issue of Human Rights

Cosmo Energy (5021) In a Display of Stunningly Bad Governance; If You Disagree, You Can’t Vote

Cosmo Energy Holdings (5021 JP) and noted Japanese activist Yoshiaki Murakami and affiliates/companies have been duking it out for the better part of a year.
Now Cosmo is putting a Poison Pill to an AGM vote. And it has decided to not allow Murakami-san to vote his shares. Because he is an interested party.
INVESTORS NEED TO BE AWARE. This is the second time a company has sought to deny a shareholder its voting rights without legal basis. The last time the court agreed.

Q1’23 revenues of ¥764 billion, up 15% YoY and 2.6% QoQ
FY2022, revenues grew by 13.2% to ¥2,859 while net income grew by 3.9% to ¥219.4.
Electronic Materials set to grow from ¥180 billion in ’22 to ¥500 billion by ’30

1Q operating profit rose 18%, on a 19% rise in sales. Net profit rose 10%.
According to the company’s data, the pace of increase in orders has been increasing since around the last week of 1Q, indicating a potential for stronger results in this FY.
Management Consulting business sales rose 14%.

The decline in the working-age population is not merely a decrease in the number of workers; it causes a loss of dynamism in society as a whole.
The “5-year rotational use of foreign workers without the assumption of permanent residency,” not immigration, is overshadowed by human rights issues.
Besides the high cost of education, an increasing number of people are choosing not to marry, and it is necessary to create a society that respects diverse lifestyles.

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