3D Investment Partners challenges Nippon Steel leadership amid investment concerns
- 3D Investment Partners has issued a statement urging shareholders to vote against the reappointment of Nippon Steel executives.
- The company's capital investment plan significantly exceeds its market valuation, raising concerns about potential value destruction.
- The shareholder meeting on June 24 will be a critical event for determining Nippon Steel's future leadership and investment strategies.
In Japan, Singapore-based 3D Investment Partners has publicly called on other shareholders of Nippon Steel to oppose the reappointment of the company's president and vice chairman. This call to action is based on their apprehension regarding a prolonged takeover attempt in the United States, which they argue poses serious risks of irreversible damage to corporate value. 3D stated that Nippon Steel’s estimated capital investment plan of ¥10 trillion ($69 billion) notably surpasses the company’s market value, which is around ¥3 trillion as of the latest data. As a result, shareholders are being urged to reconsider their support for executives whose strategies may be damaging to the company’s financial health. The upcoming annual general shareholder meeting scheduled for June 24 is set to be a pivotal moment for Nippon Steel, with the potential to influence the future direction of the company's investments and management policies.