Hibiki Path Advisors（“We”) sent a letter to the Board of Directors of Kawai Musical Instruments Manufacturing Co. Ltd. (“KAWAI”) on 8 May and explained the summary of this proposal in video content. Today, we present the video content of the exchange of views and follow-up engagement with the Company, including the content of our proposal. The meeting was extremely constructive and made us feel that we would like to keep carrying out our constructive engagement with Kawai although we are a relatively new investor as a shareholder.
This video does not constitute an offer, recommendation or solicitation to buy or sell any security or enter into any other transaction. Hibiki does not purport to provide any investment, financial, legal or other expert advice or recommendation in this document.