- Early Disclosure in response to Capital Market Requirements -
Musashi Seimitsu Industry Co., Ltd. (Headquarters: Toyohashi City, Aichi Prefecture, President and CEO: Hiroshi Otsuka), hereinafter referred to as Musashi, announces that it has issued its 97th securities report on June 21, 2024. The company plans to hold its 97th Annual General Meeting of shareholders on June 27, 2024. The interval between the issuance of the securities report and the shareholders’ meeting is 6 days, which, according to our research, is the fastest issuance among domestic listed companies in the transportation equipment sector. The aim is to provide the most up-to-date information promptly to shareholders who will exercise their voting rights by providing the latest securities report prior to the shareholders’ meeting.
Musashi Seimitsu Industry Co., Ltd. 97th Securities Report
https://contents.xj-storage.jp/xcontents/72200/1d62adee/3a3d/4f6a/9e2f/ea9d23782a37/S100TPEP.pdf
Musashi Seimitsu Industry Co., Ltd. 97th Securities Report
https://contents.xj-storage.jp/xcontents/72200/1d62adee/3a3d/4f6a/9e2f/ea9d23782a37/S100TPEP.pdf
According to various reports and market research, only about 1% of companies with fiscal year-end in March issue their securities reports before the Shareholders’ Meeting.
On the other hand, Financial Services Agency and market participants have pointed out the necessity of listed companies issuing securities reports before shareholders’ exercise voting rights at shareholders’ meeting. In April 2024, Prime Minister Kishida expressed his policy during a meeting with market participants at the Prime Minister’s official residence, stating, “We will work with the Financial Services Agency and related ministries to create an environment where more companies disclose their securities reports before the shareholders’ meeting” (*1).
(*1) Prime Minister’s Official Residence website “Exchange of opinions on promoting corporate governance reform”
https://www.kantei.go.jp/jp/101_kishida/actions/202404/03ikenkoukan2.html
On the other hand, Financial Services Agency and market participants have pointed out the necessity of listed companies issuing securities reports before shareholders’ exercise voting rights at shareholders’ meeting. In April 2024, Prime Minister Kishida expressed his policy during a meeting with market participants at the Prime Minister’s official residence, stating, “We will work with the Financial Services Agency and related ministries to create an environment where more companies disclose their securities reports before the shareholders’ meeting” (*1).
(*1) Prime Minister’s Official Residence website “Exchange of opinions on promoting corporate governance reform”
https://www.kantei.go.jp/jp/101_kishida/actions/202404/03ikenkoukan2.html
Following this, an expert panel established by the Financial Services Agency in June of the same year compiled a report and expressed the opinion that the environment should be prepared for the disclosure of securities reports before the Shareholders’ Meeting (*2).
(*2) Financial Services Agency website “Action Program 2024 for the Practice of Corporate Governance
https://www.fsa.go.jp/singi/follow-up/statements_7.pdf
(*2) Financial Services Agency website “Action Program 2024 for the Practice of Corporate Governance
https://www.fsa.go.jp/singi/follow-up/statements_7.pdf
Our company is committed to enhancing and enriching information disclosure to stakeholders, including shareholders, based on the requirement of the capital market. As a specific measure, we are actively responding to requests from investors, and as part of this effort, we have realized the early issuance of the securities report. We will continue to strive to enhance and enrich information dissemination to the capital market, including the issuance of securities reports before the shareholders’ meeting at a more appropriate timing for the exercise of voting rights.
【About Musashi】
Musashi develops, manufactures, and sells differential, transmission and planetary gears, ball joints and camshafts, for two and four-wheeled vehicles. While advancing product development for next-generation mobility such as electric and autonomous driving in this core business, the company is also focusing on creating and expanding new businesses, such as promoting Industry 4.0 through advanced AI technology development, contributing to carbon neutrality with its energy solution business, and contributing to the achievement of a wide range of SDGs through open innovation.
Musashi Web Site: https://www.musashi.co.jp/
Musashi develops, manufactures, and sells differential, transmission and planetary gears, ball joints and camshafts, for two and four-wheeled vehicles. While advancing product development for next-generation mobility such as electric and autonomous driving in this core business, the company is also focusing on creating and expanding new businesses, such as promoting Industry 4.0 through advanced AI technology development, contributing to carbon neutrality with its energy solution business, and contributing to the achievement of a wide range of SDGs through open innovation.
Musashi Web Site: https://www.musashi.co.jp/