TOKYO :ValueAct Capital criticised Seven & i Holdings on Friday for having failed to provide clear answers to key questions about the Japanese retail giant's strategy, building up tension ahead of its annual shareholders meeting.
The nine questions, which the U.S. fund had asked the company to answer when it reported earnings on Thursday, included whether the board recognises shareholder dissatisfaction with the current conglomerate structure. "The company's communications continue to be vague and confusing," the fund said."We look forward to providing shareholders the opportunity to vote for new directors who will put the company on a path towards a better future."
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