AVI URGES WACOM TO MAKE GOVERNANCE CHANGES

LONDON, May 8 (Bernama) -- Asset Value Investors Limited (“AVI”) launches a campaign calling for Wacom Corporation (“Wacom”) to be more conscious of the capital market, and announces that AVI has submitted shareholder proposals ahead of Wacom’s upcoming AGM in June. AVI has published a detailed presentation on a dedicated website.

AVI invested in Wacom in August 2021 and has sought to engage in dialogue with the company as the largest shareholder, sending letters and presentations with the aim of improving corporate value in a sustainable manner. AVI is deeply concerned by the sluggish performance of the Branded Business segment, which has posted a cumulative loss of more than Y10bn since the fourth quarter of the fiscal year ended 31 March 2022. The company has fallen far short of its mid-term plan targets and significantly underperformed the TOPIX index over this period.