Ichigo’s Scott Callon Leads Japan’s First Successful Shareholder Revolt
Thursday, May 3
11:30 am – 1 pm
Read the Event Summary.
Scott Callon, Partner & CEO, Ichigo Asset Management, Ltd.
Wilbur L. Ross, Chairman & Chief Executive Officer, WL Ross & Co. LLC; Director, Japan Society
In February 2007, Ichigo Asset Management carried out Japan’s first successful proxy solicitation, in which shareholders of steel maker Tokyo Kohtetsu rejected a proposed merger with the much larger Osaka Steel. This was a historic first, marking the first time in Japan that shareholders had rejected a merger already approved by the companies’ boards. That the majority of the votes to block the merger came from individual Japanese shareholders demonstrates the increasingly influential role of individuals in Japan’s equity markets and their willingness to defend their rights. Scott Callon, Ichigo’s Partner & CEO, describes why Ichigo initiated the proxy solicitation, the efforts Ichigo made to reach out to Tokyo Kohtetsu’s individual shareholders nationwide, and lessons he took from the proxy experience about evolving corporate governance and shareholder advocacy in Japan.
11:30 am -12 pm Registration & reception
12 – 1 pm Lecture
Admission: Corporate members are entitled to a designated number of free admissions to this event, based on their company’s current membership level. These reservations must be made at least 48 hours prior to the event. Additional corporate registrants and Japan Society individual members at the Patron level and above pay the discounted corporate member rate of $10 for the lecture. Nonmember admission: $15 for the lecture. The academic and government admission rate is $10. When payment is required, prepayment must be made, or registration secured, with a credit card. All registrations and cancellations must be made at least 48 hours prior to the event. Substitutions are welcome. Register online below.
- Thursday, May 3, 2007
- 11:30 am