LogProstyle Inc. Announces Results of the 2025 Annual General Meeting of Shareholders
In particular, the shareholders approved:
Election of Ten (10) Directors
Shareholders approved the appointment of ten directors to the Board of Directors ('BoD'), with a term in office changing from two years to one year. Five of the elected directors are considered Independent, and the newly elected board is composed of experienced professionals who will guide the Company in its next phase of growth and innovation. The newly elected BoD includes Yasuyuki Nozawa, Satoshi Oyamatsu, Taiji Ito, Kentaro Tachibana, Katharyn (Katie) Field, Tamotsu Moriyama (independent), Seishi Miyajima (independent), Izumi Takemoto (independent), Hajime Yamashita (independent), and John A. Stapleton (independent).
Establishment of a Performance Share Plan
Also approved at the AGM is the establishment of a Performance Share Plan (the 'Plan') with post-vetting delivery and related remuneration for directors (excluding independent directors), executive officers, and directors of subsidiaries. The total amount of monetary claims and cash to be granted under the Plan to the Eligible Directors for each Performance Evaluation Period shall not exceed JPY 200 million (excluding salaries for Directors who also serve as employees), and the total number of Company Shares to be delivered shall not exceed 500,000 shares per Performance Evaluation Period. The Achievement Rate of Performance Targets is based on performance indicators (financial and/or non-financial) reflective of the Group's profitability and management policies, as determined by resolution of the BoD in advance.
Shareholders also approved:
Non-Consolidated Financial Statements for the 8th Fiscal Year (April 1, 2024 to March 31, 2025);
Amendments to the Articles of Incorporation;
Election of KSM & Partners Audit Corporation as its Accounting Auditor; and
Approval of a dividend in the amount of USD 0.023 per share, or USD 543 thousand, in total, payable on August 5, 2025, to the Company's holders of record at the close of business on July 7, 2025.
The full vote results will be filed in a report with the Securities and Exchange Commission and posted on the Investor Relations section on the Company's website.
Forward-Looking Statements Disclaimer:
This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company's dividend, the AGM, the Company's growth strategy, benefits of the newly elected Board, and the implementation and potential impact of the Performance Share Plan. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, general economic conditions, changes in market conditions, the Company's ability to execute its strategic initiatives, and other factors described in the Company's filings with the U.S. Securities and Exchange Commission, including the risks detailed in the Company's annual report on Form 20-F filed with the SEC on June 27, 2025. Forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law. Any references to our website have been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
About LogProstyle Inc.
LogProstyle Inc. is involved in a wide range of businesses, including real estate development, hotel management, and restaurant management. With the slogan "redefine life style," the Company is working on various projects with the aim of illustrating an innovative and sustainable lifestyle. LogProstyle is the first unlisted Japanese company to list its Japanese common shares directly on a major United States stock exchange rather than through American Depositary Receipts (ADRs).
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