Rebuild Toyo Construction
Refresh the board of directors with highly-qualified, independent nominees with the experience and skills to lead Toyo into the future
Our Proposal to Shareholders
As shareholders of approximately 27% of Toyo Construction Co., Ltd. ("Toyo"), Yamauchi-No.10 Family Office (“YFO”) is motivated to maximize the value of Toyo shares for ALL investors.
YFO called for the launch of a fulsome process to analyze all prospective value-maximizing strategic alternatives to lead Toyo into the future, whether via YFO’s 1,000 JPY acquisition offer or any legitimate alternative that provides greater shareholder value, and the nomination of new, independent directors to replace Toyo’s entrenched board.
The Case for Change
Yamauchi-No.10 Family Office (“YFO”) believes that Toyo has the potential to take a greater leap forward, as the third-largest company in the marine engineering industry with outstanding human capital, technology, and know-how. By taking Toyo private at 1,000 JPY per share, YFO will support Toyo in facing its future challenges. YFO plans, by leveraging its existing and future investment portfolio, strategy and human resources: to deliver fair value to Toyo’s current shareholders; to continue to fulfill Toyo’s societal purpose as a maritime construction company for the benefit of all stakeholders; and to develop, in collaboration with others, solutions for Japan’s future energy security, including renewable power generation. YFO firmly believes that its ownership of Toyo will benefit not just itself, but employees, suppliers, customers, the maritime construction economy and more.
