We believe Sanken is one of the best companies in Japan when it comes to taking shareholder voices seriously and working with shareholders to enhance corporate value.
Oasis has been engaging with Sanken to encourage the company to:
1) Exit the Power System Business
2) Enhance Operations of the Semiconductor Device Business
3) Strengthen the Governance Structure
4) Introduce Performance-Linked Director Remuneration
Since our engagement, the Company has:
1) Announced a plan to examine and implement strategic options, including a potential sale of the Power Systems Business to third parties
2) Announced a plan to withdraw from unprofitable products, consolidate plants, transfer production overseas, and promote outsourcing for the Domestic Semiconductor Business
3) Employed an Independent Outside Director with knowledge in business portfolio management
4) Introduced a Performance-Linked Stock Compensation Plan (Related to Operating Income and ROE)
This is a great start and we look forward to seeing even more from Sanken.