Latest news with #Tanimoto
Yahoo
2 days ago
- Business
- Yahoo
Oasis Intends to Vote Against Kyocera's Top Management at the Upcoming AGM
*Kyocera has been facing chronic underperformance, with its stock price remaining depressed over the long-term and profitability continuing to deteriorate sharply *Although Kyocera has announced certain management reform initiatives, they fall far short of the necessary fundamental changes needed to transform the Company *On May 14, Oasis released a "Seven-Point Plan" calling for more substantive reforms at Kyocera, including the acceleration of non-core business divestitures and improvements to the Company's inefficient capital structure *However, Kyocera has so far failed to address the "Seven Point Plan" and has demonstrated little commitment to genuine transformation *In its latest results, Kyocera achieved an ROE of just 0.8% *Oasis will vote against the reappointment of Chairman Yamaguchi and President Tanimoto at the upcoming AGM, holding them accountable for the underperformance and poor capital allocation *Both ISS and Glass Lewis have recommended to vote against the reappointment of Kyocera Chairman Yamaguchi, and ISS additionally recommends voting against President Tanimoto More information available at HONG KONG, June 11, 2025--(BUSINESS WIRE)--Oasis Management Company Ltd. ("Oasis") is manager to funds that beneficially own shares in Kyocera Corporation (6971 JP) ("Kyocera" or the "Company"). Oasis has adopted the Japan FSA's "Principles of Responsible Institutional Investors" (a.k.a. the Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with its investee companies. At its May 14, 2025 earnings call, Kyocera reported on the progress of its management reforms. The Company appeared to acknowledge its past mistakes and expressed an intention to take the first step toward change. Specifically, Kyocera recognized the inefficiencies caused by the dispersal of management resources due to diversification and announced its policy to restructure its business portfolio in order to focus on its core strengths. However, like many shareholders and market participants, Oasis remains highly skeptical of Kyocera's commitment and ability to execute meaningful change especially in light of its modest plans and continued commitment to manufacturing solar panels and telecommunication devices. Moreover, underperformance against its management targets has become the norm. Since the fiscal year ended March 2020, Kyocera has exceeded its operating profit targets only once. This track record raises serious concerns about the current management team's ability to formulate and execute plans, casting significant doubt on whether they can even implement the current, modest reform plan. The latest earnings briefing further highlighted weak progress. Although Kyocera announced plans to exit JPY200 billion worth of non-core businesses, only JPY7.3 billion has been announced so far. This year's forecast includes just a JPY10 billion revenue reduction from exits. Kyocera's capital policy also remains insufficient. Although the Company has announced "Future Reduction Plan" to lower cross-shareholdings to below 20% of net assets, it has yet to provide a clear timeline for achieving this goal. Shareholders' dissatisfaction is growing. Approval for the Company's president at the AGM has dropped from 96% in 2015 to just 65% in 2023. ISS and Glass Lewis have once again recommended voting against the reappointment of Kyocera's Chairman, Mr. Yamaguchi. ISS has also recommended voting against President, Mr. Tanimoto, citing continued underperformance in ROE and capital misallocation. Oasis also believes that the top management is responsible for Kyocera's weak performance and therefore intends to vote against the reappointment of both individuals. Amid growing pressure from shareholders, Kyocera announced plans to reduce the cap on board directors from 20 to 12. At the same time, the Company also plans to increase the number of internal directors -- a move that runs against the broader efforts by many Japanese companies to strengthen board independence thereby decreasing the percentage of independent directors. In order for Kyocera to achieve genuine transformation and resolve its excessive diversification and inefficient capital structure, Oasis urges the full implementation of the following Seven-Point Plan: Divest non-core businesses amounting to over JPY660 billion of revenue. Exit the Organic Packages to prevent further losses. Restructure its KAVX subsidiary to achieve higher margins in line with peers. Stop losses by halting investment into GaN and millimeter-wave technologies which have little potential to produce material returns. Focus on its core business such as ceramics to capture untapped opportunities. Commit to aggressive M&A to reinforce core businesses. Announce a buyback program of JPY1 trillion over the next four years, amounting to approximately 37% of the Company. By implementing this plan, we believe that the stock could see an upside of over +100% from current levels. Seth Fischer, Founder & Chief Investment Officer of Oasis, said: "Kyocera's excessive diversification has long prevented it from realizing its full potential. The Company continues to support underperforming businesses while failing to prioritize investment and growth opportunities within its best businesses such as ceramics packaging, and the automotive and semiconductor sectors. With cross-shareholdings still accounting for 53% of its net assets and an ROE of just 0.8%, the time for meaningful change is now. Management needs to address the twin problems of over-diversification and over-capitalization of its balance sheet by exiting underperforming businesses, leaning into its best growth opportunities, and taking a much more ambitious stance on unwinding cross-shareholdings to improve returns on capital. Kyocera needs brave, large steps forward to achieve these goals. The current half measures are not enough." Full details can be viewed at All stakeholders are encouraged to contact Oasis at info@ *** Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at Oasis has adopted the Japan FSA's "Principles for Responsible Institutional Investors" (a.k.a. the Japan Stewardship Code) and, in line with those principles, Oasis monitors and engages with our investee companies. The information and opinions contained in this press release (referred to as the "Document") are provided by Oasis Management Company ("Oasis") for informational or reference purposes only. The Document is not intended to solicit or seek shareholders to, jointly with Oasis, acquire or transfer, or exercise any voting rights or other shareholder's rights with respect to any shares or other securities of a specific company which are subject to the disclosure requirements under the large shareholding disclosure rules under the Financial Instrument and Exchange Act. Shareholders that have an agreement to jointly exercise their voting rights are regarded as Joint Holders under the Japanese large shareholding disclosure rules and they must file notification of their aggregate shareholding with the relevant Japanese authority for public disclosure under the Financial Instruments and Exchange Act. Except in the event that Oasis expressly enters into the agreement as a joint holder requiring such disclosure, Oasis does not intend to take any action triggering reporting obligations as a Joint Holder. The Document exclusively represents the opinions, interpretations, and estimates of Oasis. View source version on Contacts Media Contact For all inquiries, please contact:Taylor Hallmedia@
Business Wire
2 days ago
- Business
- Business Wire
Oasis Intends to Vote Against Kyocera's Top Management at the Upcoming AGM
HONG KONG--(BUSINESS WIRE)--Oasis Management Company Ltd. ('Oasis') is manager to funds that beneficially own shares in Kyocera Corporation (6971 JP) ('Kyocera' or the 'Company'). Oasis has adopted the Japan FSA's 'Principles of Responsible Institutional Investors' (a.k.a. the Japan Stewardship Code) and in line with those principles, Oasis monitors and engages with its investee companies. At its May 14, 2025 earnings call, Kyocera reported on the progress of its management reforms. The Company appeared to acknowledge its past mistakes and expressed an intention to take the first step toward change. Specifically, Kyocera recognized the inefficiencies caused by the dispersal of management resources due to diversification and announced its policy to restructure its business portfolio in order to focus on its core strengths. However, like many shareholders and market participants, Oasis remains highly skeptical of Kyocera's commitment and ability to execute meaningful change especially in light of its modest plans and continued commitment to manufacturing solar panels and telecommunication devices. Moreover, underperformance against its management targets has become the norm. Since the fiscal year ended March 2020, Kyocera has exceeded its operating profit targets only once. This track record raises serious concerns about the current management team's ability to formulate and execute plans, casting significant doubt on whether they can even implement the current, modest reform plan. The latest earnings briefing further highlighted weak progress. Although Kyocera announced plans to exit JPY200 billion worth of non-core businesses, only JPY7.3 billion has been announced so far. This year's forecast includes just a JPY10 billion revenue reduction from exits. Kyocera's capital policy also remains insufficient. Although the Company has announced 'Future Reduction Plan' to lower cross-shareholdings to below 20% of net assets, it has yet to provide a clear timeline for achieving this goal. Shareholders' dissatisfaction is growing. Approval for the Company's president at the AGM has dropped from 96% in 2015 to just 65% in 2023. ISS and Glass Lewis have once again recommended voting against the reappointment of Kyocera's Chairman, Mr. Yamaguchi. ISS has also recommended voting against President, Mr. Tanimoto, citing continued underperformance in ROE and capital misallocation. Oasis also believes that the top management is responsible for Kyocera's weak performance and therefore intends to vote against the reappointment of both individuals. Amid growing pressure from shareholders, Kyocera announced plans to reduce the cap on board directors from 20 to 12. At the same time, the Company also plans to increase the number of internal directors -- a move that runs against the broader efforts by many Japanese companies to strengthen board independence thereby decreasing the percentage of independent directors. In order for Kyocera to achieve genuine transformation and resolve its excessive diversification and inefficient capital structure, Oasis urges the full implementation of the following Seven-Point Plan: Divest non-core businesses amounting to over JPY660 billion of revenue. Exit the Organic Packages to prevent further losses. Restructure its KAVX subsidiary to achieve higher margins in line with peers. Stop losses by halting investment into GaN and millimeter-wave technologies which have little potential to produce material returns. Focus on its core business such as ceramics to capture untapped opportunities. Commit to aggressive M&A to reinforce core businesses. Announce a buyback program of JPY1 trillion over the next four years, amounting to approximately 37% of the Company. By implementing this plan, we believe that the stock could see an upside of over +100% from current levels. Seth Fischer, Founder & Chief Investment Officer of Oasis, said: " Kyocera's excessive diversification has long prevented it from realizing its full potential. The Company continues to support underperforming businesses while failing to prioritize investment and growth opportunities within its best businesses such as ceramics packaging, and the automotive and semiconductor sectors. With cross-shareholdings still accounting for 53% of its net assets and an ROE of just 0.8%, the time for meaningful change is now. Management needs to address the twin problems of over-diversification and over-capitalization of its balance sheet by exiting underperforming businesses, leaning into its best growth opportunities, and taking a much more ambitious stance on unwinding cross-shareholdings to improve returns on capital. Kyocera needs brave, large steps forward to achieve these goals. The current half measures are not enough." Full details can be viewed at All stakeholders are encouraged to contact Oasis at info@ *** Oasis Management Company Ltd. manages private investment funds focused on opportunities in a wide array of asset classes across countries and sectors. Oasis was founded in 2002 by Seth H. Fischer, who leads the firm as its Chief Investment Officer. More information about Oasis is available at Oasis has adopted the Japan FSA's 'Principles for Responsible Institutional Investors' (a.k.a. the Japan Stewardship Code) and, in line with those principles, Oasis monitors and engages with our investee companies. The information and opinions contained in this press release (referred to as the "Document") are provided by Oasis Management Company ('Oasis') for informational or reference purposes only. The Document is not intended to solicit or seek shareholders to, jointly with Oasis, acquire or transfer, or exercise any voting rights or other shareholder's rights with respect to any shares or other securities of a specific company which are subject to the disclosure requirements under the large shareholding disclosure rules under the Financial Instrument and Exchange Act. Shareholders that have an agreement to jointly exercise their voting rights are regarded as Joint Holders under the Japanese large shareholding disclosure rules and they must file notification of their aggregate shareholding with the relevant Japanese authority for public disclosure under the Financial Instruments and Exchange Act. Except in the event that Oasis expressly enters into the agreement as a joint holder requiring such disclosure, Oasis does not intend to take any action triggering reporting obligations as a Joint Holder. The Document exclusively represents the opinions, interpretations, and estimates of Oasis.
Yahoo
03-04-2025
- Business
- Yahoo
Savvy Expands to Over 50 Financial Advisors With Addition of Five New Professionals
Savvy surpasses $1.5 billion in AUM as its tech-forward approach to wealth management continues to resonate with top advisors NEW YORK, April 03, 2025--(BUSINESS WIRE)--Savvy Advisors Inc. ("Savvy" or "Savvy Advisors"), a federally registered investment advisor (RIA) affiliated with Savvy Wealth, Inc. ("Savvy Wealth"), today announced the addition of five experienced financial advisors, expanding its team to more than 50 financial planners and wealth managers across the country. Advisors who join Savvy gain access to Savvy Wealth's proprietary, artificial intelligence (AI)-powered technology designed to increase advisor efficiency and output, while enabling a modern client experience. Savvy recently surpassed over $1.5 billion in assets under management (AUM) and continues to attract advisors serving high-net-worth (HNW) and ultra-high-net-worth clients. Savvy Wealth's all-in-one, integrated technology offering includes Co-Pilot, an AI-powered CRM; a digital client onboarding experience for clients; a fully embedded marketing and lead generation agency; and Savvy Wealth Investment Management, a proprietary investment management solution that helps automate tax loss harvesting, rebalancing and asset allocation across public and private markets. For more information about the newest advisors to join the firm, please see below: Jack Fitzpatrick (Scottsdale, Arizona): A 23-year veteran of Morgan Stanley's foreign exchange and commodities trading team, Fitzpatrick transitioned careers to become an investment advisor in 2020. Focusing on serving business owners and executives, he specializes in financial planning strategies and tax reduction solutions for business exits. Tyson Lokke, CFP® (Reno, Nevada): Lokke joins Savvy after departing Farther earlier this year. Throughout his 12 years in the profession, he has also served as an advisor at United Capital and Goldman Sachs Personal Financial Management. In his practice, Lokke specializes in serving business owners and PGA professionals, with a focus on converting complex financial data into clear, interactive visual experiences. Aaron Peloquin, CPA, CFP® (Plymouth, Minnesota): A consultant turned financial advisor, Peloquin uses his unique experience in risk management to serve his client base of retirees, small business owners, and HNW individuals, helping them implement tax planning strategies to navigate the complexities of heirs inheriting assets. Jared Tanimoto, CFP® (Irvine, California): A founding member of the Investopedia Advisor Council and a former InvestmentNews 40 Under 40 Honoree, Tanimoto has established a strong reputation in the financial advice industry. In his practice, Sedai Wealth Partners, LLC, Tanimoto specializes in equity compensation strategies for tech employees, tax planning for small business owners and cryptocurrency integration in portfolios. Dustin Thomas, CPA, CFP® (Indianapolis, Indiana): Thomas joins Savvy after spending over six years at Valeo Financial Advisors, where he established a practice serving HNW individuals. With over 24 years of experience in the financial services industry, Thomas leverages his tax planning experience to better inform clients' financial plans. "As more advisors join Savvy, it further demonstrates that our belief in tech-forward, digital-first human financial advice is the way of the future," said David Weiner, chief growth officer at Savvy Wealth. "We're honored that Jack, Tyson, Aaron, Jared and Dustin chose Savvy as their next home. As we continue to build and scale the Savvy Wealth platform, it's important that our advisors shape the direction of our offering to ensure we are continuing to meet the changing needs of the investors of today and tomorrow." As Savvy continues to onboard advisors and Savvy Wealth enhances its technology under the leadership of new chief technology officer Eric Hurkman, the firm is looking to meet more interested advisors. For more information, please visit About Savvy Savvy Wealth is a digital-first, multi-custodial technology platform for financial advisors centered around modernizing human-generated financial advice. Wealth managers who partner with Savvy Advisors leverage its intentionally built, integrated technology platform to help supercharge organic growth with enhanced software, and sales and marketing automation. Savvy Wealth's proprietary technology empowers wealth managers to scale revenue faster and spend more time focused on growth. Follow Savvy on LinkedIn to stay up to date on the latest company news and updates. Savvy does not provide compensation for advisor endorsements; however, endorsements represent a conflict of interest as advisors may indirectly benefit from the endorsement they have provided. Savvy Wealth, Inc. is a tech company and the parent company of Savvy Advisors, Inc. All advisory services are offered through Savvy Advisors, Inc., an investment advisor registered with the Securities and Exchange Commission ("SEC"). AI used on Savvy Wealth's advisor platform is not intended to replace human advice, nor does the AI provide client-facing investment advice or make investment decisions. View source version on Contacts Media Contact: StreetCred PRsavvy@ Will Ruben847-208-8289william@ Justin Pirigyi619-316-9195justin@
Associated Press
03-04-2025
- Business
- Associated Press
Savvy Expands to Over 50 Financial Advisors With Addition of Five New Professionals
Savvy Advisors Inc. ('Savvy' or 'Savvy Advisors'), a federally registered investment advisor (RIA) affiliated with Savvy Wealth, Inc. ('Savvy Wealth'), today announced the addition of five experienced financial advisors, expanding its team to more than 50 financial planners and wealth managers across the country. Advisors who join Savvy gain access to Savvy Wealth's proprietary, artificial intelligence (AI)-powered technology designed to increase advisor efficiency and output, while enabling a modern client experience. Savvy recently surpassed over $1.5 billion in assets under management (AUM) and continues to attract advisors serving high-net-worth (HNW) and ultra-high-net-worth clients. Savvy Wealth's all-in-one, integrated technology offering includes Co-Pilot, an AI-powered CRM; a digital client onboarding experience for clients; a fully embedded marketing and lead generation agency; and Savvy Wealth Investment Management, a proprietary investment management solution that helps automate tax loss harvesting, rebalancing and asset allocation across public and private markets. For more information about the newest advisors to join the firm, please see below: Jack Fitzpatrick (Scottsdale, Arizona): A 23-year veteran of Morgan Stanley's foreign exchange and commodities trading team, Fitzpatrick transitioned careers to become an investment advisor in 2020. Focusing on serving business owners and executives, he specializes in financial planning strategies and tax reduction solutions for business exits. Tyson Lokke, CFP® (Reno, Nevada) : Lokke joins Savvy after departing Farther earlier this year. Throughout his 12 years in the profession, he has also served as an advisor at United Capital and Goldman Sachs Personal Financial Management. In his practice, Lokke specializes in serving business owners and PGA professionals, with a focus on converting complex financial data into clear, interactive visual experiences. Aaron Peloquin, CPA, CFP® (Plymouth, Minnesota): A consultant turned financial advisor, Peloquin uses his unique experience in risk management to serve his client base of retirees, small business owners, and HNW individuals, helping them implement tax planning strategies to navigate the complexities of heirs inheriting assets. Jared Tanimoto, CFP® (Irvine, California): A founding member of the Investopedia Advisor Council and a former InvestmentNews 40 Under 40 Honoree, Tanimoto has established a strong reputation in the financial advice industry. In his practice, Sedai Wealth Partners, LLC, Tanimoto specializes in equity compensation strategies for tech employees, tax planning for small business owners and cryptocurrency integration in portfolios. Dustin Thomas, CPA, CFP® (Indianapolis, Indiana): Thomas joins Savvy after spending over six years at Valeo Financial Advisors, where he established a practice serving HNW individuals. With over 24 years of experience in the financial services industry, Thomas leverages his tax planning experience to better inform clients' financial plans. 'As more advisors join Savvy, it further demonstrates that our belief in tech-forward, digital-first human financial advice is the way of the future,' said David Weiner, chief growth officer at Savvy Wealth. 'We're honored that Jack, Tyson, Aaron, Jared and Dustin chose Savvy as their next home. As we continue to build and scale the Savvy Wealth platform, it's important that our advisors shape the direction of our offering to ensure we are continuing to meet the changing needs of the investors of today and tomorrow.' As Savvy continues to onboard advisors and Savvy Wealth enhances its technology under the leadership of new chief technology officer Eric Hurkman, the firm is looking to meet more interested advisors. For more information, please visit About Savvy Savvy Wealth is a digital-first, multi-custodial technology platform for financial advisors centered around modernizing human-generated financial advice. Wealth managers who partner with Savvy Advisors leverage its intentionally built, integrated technology platform to help supercharge organic growth with enhanced software, and sales and marketing automation. Savvy Wealth's proprietary technology empowers wealth managers to scale revenue faster and spend more time focused on growth. Follow Savvy on LinkedIn to stay up to date on the latest company news and updates. Savvy does not provide compensation for advisor endorsements; however, endorsements represent a conflict of interest as advisors may indirectly benefit from the endorsement they have provided. Savvy Wealth, Inc. is a tech company and the parent company of Savvy Advisors, Inc. All advisory services are offered through Savvy Advisors, Inc., an investment advisor registered with the Securities and Exchange Commission ('SEC'). AI used on Savvy Wealth's advisor platform is not intended to replace human advice, nor does the AI provide client-facing investment advice or make investment decisions. StreetCred PR [email protected] Ruben 847-208-8289 [email protected] Pirigyi 619-316-9195 [email protected] SOURCE: Savvy Wealth, Inc. Copyright Business Wire 2025. PUB: 04/03/2025 09:08 AM/DISC: 04/03/2025 09:08 AM
