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.
FUJIFILM (4901.T) Loving The Setup Here
- 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
Frontier Management Inc. (7038 JP) – 1Q Follow-Up
- 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%.
Behind the Issue of Population Decline Is Also the Issue of Human Rights
- 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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