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  "documentTitle": "Oasis Fujitec Presentation December 2022",
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  "presentationDate": "2022-12-01 00:00:00",
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  "pageNumber": 36,
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  "notes": "Uses regulatory guidelines from METI and JPX to frame the board's actions as a breach of duty.",
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      "text": "Market Expectation",
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      "text": "Where there is a conflict of interest between the company (minority shareholders) and management, controlling shareholders, etc., outside directors are required to protect the interests of general shareholders whose interests may be harmed by the conflict of interest.",
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      "text": "If a company incurs damages as a result of a transaction between the company and a director involving conflicts of interest between them, both such director himself/herself and the directors who voted for the board of directors’ resolution approving such transaction are presumed to have neglected their duties (Article 423, Paragraph 3). We note that directors who participate in",
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      "text": "Both the Ministry of Economy, Trade and Industry (“METI”) and the Tokyo Stock Exchange (“JPX”) have published guidelines for Independent Directors (“ID”) of listed companies. Fujitec’s Outside Directors have failed in their role to protect the interests of its stakeholders, including shareholders, over their tenure by overseeing egregious behavior by management, as well as partaking in egregious behavior themselves by violating shareholders’ most basic right – to vote and hold directors accountable.",
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      "text": "Outside Directors have demonstrated that they are not representing shareholder interests by not speaking out over the violation of shareholder rights and the numerous red flags that have surrounded the many transactions benefiting the Uchiyama family – most recently the discounted sale of Domus Moto Azabu to Santo Inc., a company owned by Yusuke Uchiyama, the son of Takakazu – were supported by Outside Directors.",
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      "kind": "title",
      "text": "V. Fujitec’s Outside Directors Failed to Fulfill Their Role",
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