RMB Capital Proposes Share Buyback at Nishikawa’s Annual General Shareholders Meeting

CHICAGO–(BUSINESS WIRE)–RMB Capital (“RMB”), a Chicago-based independent investment advisory firm, is a long-term shareholder of Nishikawa Rubber Industry Co., Ltd. (5161 JP, “Nishikawa”) and owns approximately 2% of the firm’s total outstanding shares.

RMB filed a shareholder proposal (Proposal #6) for Nishikawa’s 71^st annual general shareholders meeting, scheduled on June 25, 2020, to buyback common stock of 88,000 shares, maximum 100 million yen. Even with the uncertainty due to the COVID-19 pandemic, Nishikawa holds 30.9 billion yen in cash and 14.3 billion in marketable securities on its balance sheet. RMB believes the management should start a buyback program and send a strong message to the stock market that Nishikawa remains a healthy business despite its stock price staying at a historically low level.

In addition, RMB opposes the continuation of the “poison pill” proposed by the management (item #5).

About RMB Capital

Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.

Contacts

Media Contact:

Masakazu Hosomizu

RMB Capital

japan@rmbcap.com