(Bloomberg) -- Strategic Capital Inc., an activist fund led by Tsuyoshi Maruki, will push for the ouster of Daidoh Ltd.’s president after years of operating losses at the clothing manufacturer. 

Strategic Capital, which is Daidoh’s largest shareholder, will make a proposal at the company’s June 27 annual general meeting that president Tsukasa Nabewari step down, the fund said in a statement.

Activist investors have been raising their profiles in Japan, reflecting efforts by the nation’s policymakers to boost the appeal of its equity market by improving corporate valuations. Shareholder proposals, which hit a peak last year, are likely to reach a record when annual meetings pick up in the coming months. 

Daidoh, which sells the Brooks Brothers and New Yorker brands in Japan, plans to ask shareholders to reappoint current management. President Nabewari has been in office since April 2020. The company’s shares have risen 32% during that time, according to data compiled by Bloomberg. Much of that gain has come after Strategic Capital started to build its stake. 

The fund will propose six candidates to join the board of Daidoh. 




©2024 Bloomberg L.P.