News

Kadokawa CEO Takeshi Natsuno Retains Positions After Shareholder Vote

Takeshi Natsuno retains his positions as both the CEO and a board member of Kadokawa, after receiving enough votes during the company's 12th annual general meeting of shareholders on June 24.

Oasis Management Company Ltd., Kadokawa's largest shareholder with a current 15.25% stake, had called on shareholders last month to vote Natsuno out, citing Kadokawa's declining profitability under his tenure since 2021. Kadokawa then released a statement on June 12, stating that Natsuno's removal would disrupt the company's reform efforts. Kadokawa added that removing Natsuno from the Board of Directors without a specific successor, an alternative management structure, or an actionable plan in place of its Medium-Term Management Plan "could create significant uncertainty regarding both the continuity of these reforms and the stability of the company's management."

Kadokawa announced on March 18 that Oasis Management Company Ltd. is now the largest shareholder in the company, which then held 14,893,100 shares (10.03%) as of March 16, and as of March 18 owned 17,655,800 shares (11.89%).

Oasis Management Company Ltd. is an asset management company that "invests globally across capital structures with a focus on Asia." Seth Fischer founded the company in 2002. The company has offices in Hong Kong, Tokyo, Austin, and the Cayman Islands, but Kadokawa's announcement in March stated the head office is located in the Cayman Islands. Fischer is based in Hong Kong.

Previously, Sony Group Corporation was the largest shareholder, with 14,899,050 shares (now 10.04%). Sony is now the second-largest shareholder as of March 18.

Sony Group Corporation became the largest shareholder in Kadokawa in January 2025. The two companies stated at the time they formed a "strategic capital and business alliance," with Sony Group Corporation holding approximately 10% of its shares as of January 2025. Sony's holding of 10% of Kadokawa's shares includes shares Sony previously purchased in February 2021.

As of January 2025, Korea Security Depository - Samsung and The Master Trust Bank of Japan, Ltd. technically held more percentage of shares than Sony, however Kadokawa has stated both are "trust business operators holding the shares as trust property, and so it has been determined that they do not constitute major shareholders or the largest major shareholder."

Sources: Reuters (Anton Bridge, Sam Nussey, Miho Uranaka, link 2, link 3), Kadokawa (link 2)