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      "text": "\"We recognize that the discrepancy where the market value of held shares exceeds the company's total market capitalization is a significant challenge. We evaluated this proposal as one that contributes to addressing this issue. Additionally, we believe it could serve as an opportunity for the company to reconsider its capital policy\" — Nikko Asset Management. \"The Company has determined that considering the option of selling the shares, taking into account the formulation of its capital allocation policy, would contribute to improving its corporate value in the medium to long term\" — Daiwa Asset Management. \"...the Company has not been transparent regarding its plan to further reduce its ownership in OLC and how it plans to use those proceeds to grow corporate value. As such, we believe support for the shareholder proposal is warranted and that its implementation would both increase transparency of the Company's capital management strategy and improve the Company's capital efficiency and sustainable growth as these proceeds can be used to either reinvest for growth opportunities or be redistributed to shareholders.\" — Neuberger Berman. \"We believe that this proposal will remove an accounting 'overhang'... forcing management to be more disciplined in its capital allocation decisions and accountable for the performance of Keisei's operating businesses\" — ISS. \"The board does not appear to substantively address the rationale for why a partial sale of Keisei's interest in OLC would be inimical to the Company's stability and sustainability\" — Glass Lewis.",
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      "text": "Source: Company disclosures, Bloomberg, FactSet, Glass Lewis, ISS. (1) Public Sources - FactSet, Company Disclosures.",
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      "text": "...resulting in significant support from Japanese domestic and international investors and both leading global proxy advisors",
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