KUSURI NO AOKI HOLDINGS CO.,LTD.

Hong Kong-based investment fund Oasis Management has increased its stake in Kusuri no Aoki Holdings, raising its holding from 14.05% to 15.10%, according to a change report filed with the Kanto Finance Bureau. The reporting obligation date was the 17th. Oasis stated that its purpose in holding the shares is to improve medium- to long-term corporate value through measures such as correcting significant corporate governance flaws, and that it plans to make proposals over the next 12 months regarding matters including the removal of the representative director, the appointment of specific individuals as officers, and dividend policy. Kusuri no Aoki approved the introduction of takeover defense measures at an extraordinary shareholders' meeting on February 17 this year, and had said it would consider countermeasures such as the free allocation of share subscription rights if a party moved to acquire 20% or more of voting rights without complying with prescribed rules such as providing sufficient prior information. At its annual shareholders' meeting held on the 19th of this month, the company approved company-proposed agenda items including the election of 11 directors, including President Hironori Aoki.