Kempen issues an open letter to Fujitec’s Board of Directors

AMSTERDAM–(BUSINESS WIRE)–Kempen Capital Management N.V. (Kempen) disapproves recent Board decisions at Fujitec Co., Ltd. (Fujitec). This was expressed today in an open letter to Fujitec’s Board of Directors. Funds managed and accounts advised by Kempen currently own approximately 4.0% of the outstanding shares of Fujitec.

Jan Willem Berghuis, Head of Small-Caps at Kempen: ‘We started investing in Fujitec in August 2014 through our Global Small-cap strategy and ever since have been in frequent contact with the company to share and discuss key observations and make suggestions to drive long-term sustainable value for all Fujitec stakeholders. Following a sequence of recent events, we disapprove Fujitec’s Board decisions announced on 23 June 2022, which we believe undermine shareholder rights and are in stark contrast with any intention and commitment to improve on corporate governance. As shared in our letter, we call on the Board of Directors to take action.’

A copy of the open letter can be found here: link to open letter

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Disclaimer

This document has been prepared by Kempen Capital Management N.V. (Kempen) for the benefit and use of the original recipients. It does not constitute, and should not be construed as, an offer or solicitation to enter into any transaction regarding any financial instrument, nor should it form the basis of or be relied on in connection with any such transaction. This document does not constitute, and should not be construed as, tax, legal, regulatory, accountancy or other specialist or technical advice, or investment advice or personal recommendations, any trading strategy or advice (from an investment perspective) to any person on the suitability of any transaction.

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Kempen Capital Management N.V. (Kempen) is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. As asset manager KCM may have investments, generally for the benefit of third parties, in financial instruments, like those mentioned in this document and it may at any time decide to execute buy or sell transactions in these financial instruments. Kempen currently has invested in shares of the company mentioned.

About Kempen Capital Management

Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 31 December 2021, Kempen Capital Management had a total of €91.9 billion in client assets under management.

Kempen Capital Management N.V., part of Van Lanschot Kempen N.V., is a specialist and independent wealth manager. Kempen Capital Management N.V. is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets.

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Contacts

Further details
For further details, please contact Van Lanschot Kempen media relations:

Daan Joosen

d.joosen@vanlanschotkempen.com
+31 (6) 13 70 28 47