Activist investor Oasis launches campaign against Japan drug store chain Ain

TOKYO :Activist investor Oasis Administration has called for governance overhaul at scandal-hit Ain Holdings, Japan’s largest drug retailer chain, in its most recent advertising and marketing campaign targeting a Japanese firm.

Oasis said there modified into no self reliant oversight of management at Ain and has proposed the appointment of 4 modern outdoors directors, a brand modern compensation notion for outdoors directors, and the dismissal of two incumbent directors.

Ain had disclosed earlier it obtained Oasis’ shareholder proposals in early June and responded on June 26 saying the firm believed their board had enough self reliant oversight and that Oasis’ proposed outdoors director compensation notion would hotfoot away it unable to acknowledge flexibly to the exterior market atmosphere.

Oasis before all the pieces built a 9.6 per cent stake in Ain, in accordance with filings in March, which it then raised to 14.9 per cent in Can also.

An Ain spokesperson said on Friday the firm modified into in the approach of learning Oasis’ advertising and marketing campaign announcement.

In 2023, a director from Ain and but any other from an Ain subsidiary were prosecuted for mishandling documents connected to a public contract yell. Both were stumbled on guilty in April 2024.

Ain shares fell 3.5 per cent on Friday morning, when in contrast with a 1 per cent fabricate on the benchmark Nikkei index.

Hong Kong-basically based Oasis launched in April a advertising and marketing campaign aimed toward cosmetics and skincare firm Kao, annoying it redefine its imprint portfolio and enhance advertising and marketing.