Board
Company
Documents about Board
Notice Regarding Borrowing of Funds with Financial Covenants and Conclusion of Commitment Line Agreement
Akatsuki Inc. has secured significant financing arrangements to facilitate strategic corporate activities, specifically the acquisition of SUNNY SIDE UP GROUP Inc. through a tender offer and the repurchase of treasury shares.
- Akatsuki Inc. has secured JPY 15,442 million in long-term debt to fund the acquisition of SUNNY SIDE UP GROUP Inc. and the repurchase of treasury shares.
- The JPY 15,442 million loan matures on July 31, 2028, and carries a floating interest rate of Japanese Yen TIBOR plus a 1% spread.
- The long-term loan includes strict financial covenants, including a gross leverage ratio cap of 8.4x, a net leverage ratio cap of 3.1x, and a requirement to maintain at least 75% of net assets relative to the previous fiscal year.
Announcement of Tender Offer for Shares of SUNNY SIDE UP GROUP Inc.
Akatsuki Inc. has initiated a tender offer to acquire all outstanding shares and share acquisition rights of SUNNY SIDE UP GROUP Inc. (SSUG) with the ultimate objective of taking the company private.
- Akatsuki Inc. has launched a tender offer to acquire all outstanding shares of SUNNY SIDE UP GROUP Inc. (SSUG) for 1,320 yen per share, valuing the transaction at approximately 13.9 billion yen.
- The acquisition aims to take SSUG private, delisting it from the Tokyo Stock Exchange to enable more agile decision-making and eliminate public reporting constraints.
- The tender offer period is scheduled to run from May 14, 2026, to June 24, 2026, with major shareholders already committed to tendering their stakes.
Notice Regarding the Completion of Purchase of Treasury Shares
Akatsuki Inc. has finalized the acquisition of 2,390,000 treasury shares, representing 16.5% of its total issued shares excluding existing treasury holdings.
- Akatsuki Inc. acquired 2,390,000 treasury shares on May 14, 2026, for a total expenditure of 6,481,680,000 yen.
- The acquired shares represent 16.5% of the company's total issued shares, excluding existing treasury holdings.
- These shares are earmarked as consideration for a planned share exchange to integrate SUNNY SIDE UP GROUP Inc. as a wholly owned subsidiary.
Announcement of Year-End Dividend: Japan
Akatsuki Inc. has formally proposed a year-end dividend of ¥60.00 per share for the fiscal year ending March 31, 2026.
- Akatsuki Inc. has proposed a year-end dividend of ¥60.00 per share for the fiscal year ending March 31, 2026.
- The proposed dividend marks an increase from the previous year's payout of ¥55.00 per share.
- Total dividend distribution is set to rise to ¥867 million, up from the ¥794 million paid in the prior term.
Notice Regarding the Amount and Details of Remuneration as Stock Options for Directors: Japan
Akatsuki Inc. has proposed the implementation of a new stock option plan for its Directors, excluding Outside Directors, to be presented for approval at the 16th Ordinary General Meeting of Shareholders on June 25, 2026.
- Akatsuki Inc. is proposing a new stock option plan for internal Directors to be voted on at the 16th Ordinary General Meeting of Shareholders on June 25, 2026.
- The plan authorizes up to JPY 100 million in annual remuneration for stock acquisition rights, separate from the existing JPY 500 million cash remuneration limit.
- The proposal allows for the annual issuance of up to 800 stock acquisition rights, convertible into a maximum of 80,000 common shares.
Opinions of the Nominating Committee and the Board of Directors on Proxy Advisory Firms' Recommendation
Kadokawa Corporation maintains its support for company-sponsored proposals while formally opposing shareholder-led initiatives ahead of the 12th Ordinary General Meeting of Shareholders scheduled for June 24, 2026.
- Kadokawa Corporation has formally opposed all shareholder-led initiatives ahead of its 12th Ordinary General Meeting of Shareholders scheduled for June 24, 2026.
- The Board of Directors argues that removing the current CEO would create leadership instability and jeopardize the execution of the company's new Medium-Term Management Plan.
- Management’s strategic focus remains on earnings structure reforms within the domestic publishing and animation sectors, alongside cost optimization and return on equity improvements.
Notice Regarding Changes in Members of the Board, Chief Officers and Corporate Officers: Japan
KADOKAWA CORPORATION has finalized its leadership restructuring following the 12th Annual General Meeting of Shareholders held on June 24, 2026.
- KADOKAWA CORPORATION finalized its leadership restructuring on June 24, 2026, following its 12th Annual General Meeting of Shareholders.
- Takeshi Natsuno continues to serve as Chief Executive Officer, leading the executive team across the company's diverse media, entertainment, and gaming operations.
- The Board of Directors has been formalized with a focus on independent oversight, featuring Hiroo Unoura as Chairperson and independent directors including Ruth Marie Jarman, Etsuko Okajima, and Koji Okura.
Extraordinary Report: Voting Results of the 29th Annual General Meeting of Shareholders
The 29th Annual General Meeting of Shareholders for Marvelous Inc., held on June 23, 2026, served to formalize the company’s leadership and oversight structure through the election of key governance personnel.
- Marvelous Inc. successfully passed all three agenda items at its 29th Annual General Meeting of Shareholders held on June 23, 2026.
- Shareholders elected nine directors to the Board with approval ratings spanning from 86.21% to 98.63%.
- Two members were appointed to the Audit & Supervisory Board, securing high approval ratings of 96.51% and 99.15%.
Notice of Share Buyback Program
NEXON Co., Ltd. has authorized a share buyback program to enhance capital efficiency and facilitate more flexible capital management.
- NEXON Co., Ltd. has authorized a share buyback program with a maximum expenditure of JPY 30 billion.
- The company plans to repurchase up to 14,000,000 ordinary shares, accounting for approximately 1.8% of its total outstanding shares.
- The buyback program will be executed via market purchases on the Tokyo Stock Exchange between May 15, 2026, and July 31, 2026.
Status Report of Share Buyback Program
Nexon Co., Ltd. is executing a strategic share buyback program to manage capital allocation and enhance shareholder value.
- Nexon Co., Ltd. is executing a share buyback program authorized for up to 14 million shares or JPY 30 billion, running from May 15, 2026, to July 31, 2026.
- As of June 30, 2026, the company has repurchased 7,957,400 shares for a total investment of JPY 17,750,270,600.
- During the month of June 2026 alone, Nexon acquired 5,061,400 shares at a cost of JPY 11,230,142,950.
HK$400 Million Automatic Share Buy-Back Program
The announcement details XD Inc.’s launch of a HK$400 million Automatic Share Buy-Back Program, effective June 12 2026 and scheduled to conclude by November 11 2026 or earlier if the cap is reached.
- XD Inc. has launched an automatic share buy-back program valued at HK$400 million.
- The program commences on June 12, 2026, and is scheduled to conclude by November 11, 2026, or earlier if the HK$400 million cap is reached.
- An independent broker will execute the repurchases on the Hong Kong Stock Exchange using pre-determined, non-discretionary parameters to ensure compliance with Listing Rules.
Notice Regarding the Opinion of the Company’s Board of Directors on the Shareholder Proposal
Kadokawa Corporation’s board issued a formal opposition to a shareholder proposal submitted by Oasis Japan Strategic Fund Y Ltd.
- Kadokawa Corporation’s board has formally opposed a shareholder proposal from Oasis Japan Strategic Fund Y Ltd. to dismiss CEO Takeshi Natsuno ahead of the June 24, 2026, annual meeting.
- The board justifies Natsuno’s leadership by citing his 'Global Media Mix with Technology' strategy, which targets ¥400 billion in sales and a 9.4% ROE for the FY 2026–2031 period.
- Management credits Natsuno’s IT-industry background for the rapid containment and ongoing security upgrades following the company’s 2024 ransomware attack.