{"id":5354,"date":"2026-01-23T17:45:26","date_gmt":"2026-01-23T09:45:26","guid":{"rendered":"https:\/\/www.hibiki-path-advisors.com\/?p=5354"},"modified":"2026-04-02T13:25:47","modified_gmt":"2026-04-02T05:25:47","slug":"post-5354","status":"publish","type":"post","link":"https:\/\/www.hibiki-path-advisors.com\/en\/engagement\/post-5354\/","title":{"rendered":"23\/Jan\/2026 \uff0d Tomoe Corporation: Follow-Up on Our Request for a Complete Overhaul of the Medium-Term Management Plan and the Establishment of a Special Committee"},"content":{"rendered":"

Hibiki Path Advisors (from January 2026, Hibiki Path Advisors SPC; collectively, \u201cwe\u201d) sent a letter dated January 20 to the Board of Directors and the Audit and Supervisory Committee of Tomoe Corporation, one of our core portfolio holdings.<\/span>\u00a0<\/span><\/p>\n

Link of this letter<\/span><\/a>\u00a0<\/span><\/p>\n

Before issuing this letter, we had already delivered a letter dated September 12, 2025 (the \u201cPrior Letter\u201d) to Tomoe Corporation\u2019s Board of Directors and Audit and Supervisory Committee, in which\u00a0we explicitly called for a complete overhaul of the Medium-Term Management Plan and the prompt establishment of a Special Committee, as set out below.<\/span>\u00a0<\/span><\/p>\n

Prior Letter on Sep 12, 2025<\/span><\/a>\u00a0<\/span><\/p>\n

(Our History of Engagement with Tomoe)<\/span>\u00a0<\/span><\/p>\n

17\/Nov\/2025\u00a0<\/span>\u30fc<\/span>\u00a0Tomoe Corporation 2Q FY3\/26 Results<\/span><\/a>\u00a0<\/span><\/p>\n

3\/Oct\/2025 \u2013 Letter to Tomoe CORPORATION<\/span><\/a>\u00a0<\/span><\/p>\n

2\/Jul\/2025 \u2013 Results of Tomoe\u2019s 93rd Annual General Meeting of Shareholders (comment on voting results)<\/span><\/a>\u00a0<\/span><\/p>\n

13\/Jun\/2025 \u2013 ISS Endorses Hibiki\u2019s Shareholder Proposals to Tomoe Corporation<\/span><\/a>\u00a0<\/span><\/p>\n

5\/June\/2025\u00a0<\/span>\u30fc<\/span>\u00a0Comments on the Revision of the Medium-Term Management Plan<\/span><\/a>\u00a0<\/span><\/p>\n

29\/May\/2025\u00a0<\/span>\u30fc<\/span>\u00a0Shareholder proposal for Tomoe Corporation<\/span><\/a>\u00a0<\/span><\/p>\n

\n

This letter does not constitute, and shall not be construed as, any proposal, solicitation, marketing, advertisement, inducement, or representation with respect to any service or product, nor does it constitute advice regarding the purchase or sale of any investment product or any type of investment, the making of any investment, the entering into of any transaction, or the refraining from any action (whether or not any terms or conditions are stated herein), and does not express any opinion regarding the merits of any particular investment or investment strategy. Any examples of strategies or transactions are provided solely for explanatory purposes and do not\u00a0represent\u00a0past or future strategies or performance, nor do they\u00a0indicate\u00a0the likelihood of success of any\u00a0particular strategy. Furthermore, this letter\u00a0does not constitute\u00a0investment, financial, legal, tax, or any other professional advice.\u00a0This letter has been prepared based on publicly available information (which we have not independently verified) and does not purport to be complete,\u00a0timely, or comprehensive.\u00a0We do not intend, either directly or indirectly, including through other shareholders, to propose at any shareholders\u2019 meeting of Tomoe Corporation (Kabushiki Kaisha Tomoe Corporation, \u201cTomoe Corporation\u201d) the transfer or disposal of the business or assets of Tomoe Corporation or any of its group companies. In addition, we do not have any intention\u00a0to engage\u00a0in any conduct that would make the continuous and stable operation of the business of Tomoe Corporation or its group companies difficult.<\/span>\u00a0<\/span><\/p>\n

\n

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Hibiki Path Advisors (from January 2026, Hibiki Path Advisors SPC; collectively, \u201cwe\u201d) sent a letter dated January 20 to the Board of Directors and the Audit and Supervisory Committee of Tomoe Corporation, one of our core portfolio holdings.\u00a0 Link of this letter\u00a0 Before issuing this letter, we had already delivered a letter dated September 12, 2025 (the \u201cPrior Letter\u201d) to Tomoe Corporation\u2019s Board of Directors and Audit and Supervisory Committee, in which\u00a0we explicitly called for a complete overhaul of the Medium-Term Management Plan and the prompt establishment of a Special Committee, as set out below.\u00a0 Prior Letter on Sep 12, 2025\u00a0 (Our History of Engagement with Tomoe)\u00a0 17\/Nov\/2025\u00a0\u30fc\u00a0Tomoe Corporation 2Q FY3\/26 Results\u00a0 3\/Oct\/2025 \u2013 Letter to Tomoe CORPORATION\u00a0 2\/Jul\/2025 \u2013 Results of Tomoe\u2019s 93rd Annual General Meeting of Shareholders (comment on voting results)\u00a0 13\/Jun\/2025 \u2013 ISS Endorses Hibiki\u2019s Shareholder Proposals to Tomoe Corporation\u00a0 5\/June\/2025\u00a0\u30fc\u00a0Comments on the Revision of the Medium-Term Management Plan\u00a0 29\/May\/2025\u00a0\u30fc\u00a0Shareholder proposal for Tomoe Corporation\u00a0 This letter does not constitute, and shall not be construed as, any proposal, solicitation, marketing, advertisement, inducement, or representation with respect to any service or product, nor does it constitute advice regarding the purchase or sale of any investment product or any type of investment, the making of any investment, the entering into of any transaction, or the refraining from any action (whether or not any terms or conditions are stated herein), and does not express any opinion regarding the merits of any particular investment or investment strategy. Any examples of strategies or transactions are provided solely for explanatory purposes and do not\u00a0represent\u00a0past or future strategies or performance, nor do they\u00a0indicate\u00a0the likelihood of success of any\u00a0particular strategy. Furthermore, this letter\u00a0does not constitute\u00a0investment, financial, legal, tax,…","protected":false},"author":6,"featured_media":532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83,39,80],"tags":[],"class_list":{"0":"post-5354","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-message-2026","8":"category-engagement","9":"category-80"},"views":1668,"_links":{"self":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/5354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/comments?post=5354"}],"version-history":[{"count":6,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/5354\/revisions"}],"predecessor-version":[{"id":5363,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/posts\/5354\/revisions\/5363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/media\/532"}],"wp:attachment":[{"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/media?parent=5354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/categories?post=5354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hibiki-path-advisors.com\/en\/wp-json\/wp\/v2\/tags?post=5354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}