Regarding the Shareholder Proposal to Shimamura Co., Ltd. (8227)
Catalyst Investment Group has announced that the Monex Activist Mother Fund has submitted a shareholder proposal to Shimamura Co., Ltd. (8227), demanding a dividend payout ratio of 60% at the upcoming 73rd Annual General Meeting of Shareholders in May 2026.
📋 Article Processing Timeline
- 📰 Published: April 9, 2026 at 02:00
- 🔍 Collected: April 8, 2026 at 17:30
- 🤖 AI Analyzed: April 21, 2026 at 06:06 (300h 35m after Collected)
April 8, 2026
Catalyst Investment Group Co., Ltd.
## Regarding the Shareholder Proposal to Shimamura Co., Ltd. (8227)
Catalyst Investment Group Co., Ltd. (hereinafter referred to as 'our company') engages with Japanese companies through the Monex Activist Mother Fund (hereinafter 'MAMF'), a domestic investment trust, and the Japan Catalyst Fund (hereinafter 'JCF'), a Cayman-domiciled corporate investment trust, for both of which our company provides investment advice.
Our company has been conducting engagement activities with Shimamura Co., Ltd. (hereinafter 'Shimamura'), a key investment target for both MAMF and JCF, with a long-term perspective. At this time, MAMF, advised by our company, has submitted an attached shareholder proposal regarding the agenda for Shimamura's 73rd Annual General Meeting of Shareholders, scheduled to be held in May 2026.
End
* This shareholder proposal is submitted by Monex Asset Management, Inc. (hereinafter 'MAM'), acting as a proxy for MAMF, and our company is providing support for the shareholder proposal to MAM.
(Attachment)
* In the following shareholder proposal document, 'the Company' refers to Shimamura Co., Ltd.
Shareholder Proposal Document (Main Text Only)
All company figures described in the following proposal are based on consolidated financial statements.
1. Proposed Agenda: Appropriation of Surplus
(1) Outline of the Proposal:
The surplus shall be appropriated as follows so that the total annual dividend amount is equivalent to a dividend payout ratio of 60%.
If the Board of Directors of the Company proposes a resolution concerning the appropriation of surplus at this Annual General Meeting of Shareholders, this proposal is submitted additionally and independently of that proposal.
Since the record date for the year-end dividend is February 20, the dividend amount per share is calculated based on the number of shares prior to the stock split on February 21, 2026.
A. Type of dividend property
Cash
B. Dividend amount per share
An amount obtained by deducting the surplus dividend amount per ordinary share of the Company proposed by the Board of Directors of the Company to this Annual General Meeting of Shareholders and approved at this Annual General Meeting of Shareholders from 260 yen.
If the amount obtained by multiplying the net income per share for the 73rd term by 0.6 and truncating the fraction less than one yen, minus 100 yen (hereinafter referred to as the 'Amount Equivalent to a 60% Dividend Payout Ratio') differs from 260 yen, the initial 260 yen shall be read as the Amount Equivalent to a 60% Dividend Payout Ratio.
C. Matters concerning the allotment of dividend property and its total amount
The dividend amount per share stated in B above for each ordinary share of the Company (The total dividend amount is calculated by multiplying the dividend amount per share by the total number of ordinary shares issued by the Company as of February 20, 2026 (excluding treasury stock)).
D. Effective date of the dividend from surplus
The date of this Annual General Meeting of Shareholders
E. Dividend payment start date
The date 3 weeks after the business day following the date of this Annual General Meeting of Shareholders
(2) Reason for the proposal:
Catalyst Investment Group Co., Ltd.
## Regarding the Shareholder Proposal to Shimamura Co., Ltd. (8227)
Catalyst Investment Group Co., Ltd. (hereinafter referred to as 'our company') engages with Japanese companies through the Monex Activist Mother Fund (hereinafter 'MAMF'), a domestic investment trust, and the Japan Catalyst Fund (hereinafter 'JCF'), a Cayman-domiciled corporate investment trust, for both of which our company provides investment advice.
Our company has been conducting engagement activities with Shimamura Co., Ltd. (hereinafter 'Shimamura'), a key investment target for both MAMF and JCF, with a long-term perspective. At this time, MAMF, advised by our company, has submitted an attached shareholder proposal regarding the agenda for Shimamura's 73rd Annual General Meeting of Shareholders, scheduled to be held in May 2026.
End
* This shareholder proposal is submitted by Monex Asset Management, Inc. (hereinafter 'MAM'), acting as a proxy for MAMF, and our company is providing support for the shareholder proposal to MAM.
(Attachment)
* In the following shareholder proposal document, 'the Company' refers to Shimamura Co., Ltd.
Shareholder Proposal Document (Main Text Only)
All company figures described in the following proposal are based on consolidated financial statements.
1. Proposed Agenda: Appropriation of Surplus
(1) Outline of the Proposal:
The surplus shall be appropriated as follows so that the total annual dividend amount is equivalent to a dividend payout ratio of 60%.
If the Board of Directors of the Company proposes a resolution concerning the appropriation of surplus at this Annual General Meeting of Shareholders, this proposal is submitted additionally and independently of that proposal.
Since the record date for the year-end dividend is February 20, the dividend amount per share is calculated based on the number of shares prior to the stock split on February 21, 2026.
A. Type of dividend property
Cash
B. Dividend amount per share
An amount obtained by deducting the surplus dividend amount per ordinary share of the Company proposed by the Board of Directors of the Company to this Annual General Meeting of Shareholders and approved at this Annual General Meeting of Shareholders from 260 yen.
If the amount obtained by multiplying the net income per share for the 73rd term by 0.6 and truncating the fraction less than one yen, minus 100 yen (hereinafter referred to as the 'Amount Equivalent to a 60% Dividend Payout Ratio') differs from 260 yen, the initial 260 yen shall be read as the Amount Equivalent to a 60% Dividend Payout Ratio.
C. Matters concerning the allotment of dividend property and its total amount
The dividend amount per share stated in B above for each ordinary share of the Company (The total dividend amount is calculated by multiplying the dividend amount per share by the total number of ordinary shares issued by the Company as of February 20, 2026 (excluding treasury stock)).
D. Effective date of the dividend from surplus
The date of this Annual General Meeting of Shareholders
E. Dividend payment start date
The date 3 weeks after the business day following the date of this Annual General Meeting of Shareholders
(2) Reason for the proposal: