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An announcement from Sumitomo Densetsu Co ( (JP:1949) ) is now available.
Sumitomo Densetsu Co., Ltd. has announced its Board of Directors’ decision to oppose a shareholder proposal from the Monex Activist Mother Fund, which suggested increasing dividends to a level equivalent to 6% of net assets. The company believes this proposal does not align with its strategy of maintaining stable dividends while investing in growth, particularly given the current global economic uncertainties. Instead, Sumitomo Densetsu plans to focus on its new medium-term management plan, ‘VISION 2030 Mid-term Plan 2028,’ which aims for sustainable growth through investments in human capital and technology, targeting a 50% dividend payout ratio by FY2028.
More about Sumitomo Densetsu Co
Sumitomo Densetsu Co., Ltd. operates in the engineering industry, focusing on comprehensive engineering services. The company emphasizes the use of human capital and technical capabilities to drive its operations, aiming for sustainable growth through strategic investments in people and technology.
Average Trading Volume: 62,540
Technical Sentiment Signal: Buy
Current Market Cap: Yen182.2B
See more insights into 1949 stock on TipRanks’ Stock Analysis page.