Yoshiaki Murakami, Japan's first homegrown activist investor, will probably win board seats at Kuroda Electric Co. in his return to proxy fights after many years, according to his daughter.
Aya Murakami, 27, speaks for her father and the investment group that built a stake in the Osaka-based electronic-parts trading company and proposed that four candidates, including Yoshiaki, be added to the six-member board. Institutional Shareholder Services Inc.'s (ISS) decision to recommend in favor of their appointment has tipped the balance in Murakami's favor, she said. ISS advises investors how to vote at company meetings.
"I'm pretty sure we'll win," Aya Murakami, said by phone from Tokyo. "Foreign investors accounted for 44 percent of Kuroda's shareholders at the end of March, and most of them will follow ISS' recommendation."
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