CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), a Chicago-based independent investment advisory firm, is a long-term shareholder of Nishikawa Rubber Industry Co., Ltd. (5161 JP, “Nishikawa”) and owns approximately 2% of the firm’s total outstanding shares.
RMB has filed shareholder proposals of (a) a share buyback (maximum 200,000 shares of common stock or 300 million yen) and (b) the termination of its corporate defense plan (“poison pill”) for Nishikawa’s 72nd annual general shareholders meeting, scheduled in June 2021.
Nishikawa holds 33.4 billion yen in cash and 21.2 billion in marketable securities on its balance sheet. RMB believes the management should start a buyback program to send a strong message to the stock market that Nishikawa remains a healthy business, despite its stock price staying at a historically low level.
In addition, RMB believes the current “poison pill” plan should be terminated from the perspective of improving the standard of corporate governance at Nishikawa.
Please refer to Nishikawa Activism for RMB’s past press releases on this topic.
About RMB Capital
Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.