3D Investment Partners, holding approximately 24% of voting rights in Toho Holdings, published its views on all 17 questions in Toho HD's FAQs, arguing that the company's poison pill is being invoked for entrenchment purposes. 3D asserts that Toho HD has not identified any specific errors in 3D's disclosures, which are based on primary sources, and that Toho HD itself has given explanations contrary to fact, including dismissing written statements by its own CEO and COO about undiscovered misconduct. 3D also claims that Toho HD concealed critical information, such as a draft Written Pledge capping 3D's voting rights at 30%, and that the Independent Committee chair lacks substantive independence due to ties with a business partner. 3D is urging shareholders to vote against Proposal No. 4 at the upcoming Annual General Meeting of Shareholders.
TOHO HOLDINGS CO., LTD.3D Investment Partners urges shareholders to vote against the poison pill, which could weaken management's defense and pressure the board.