We believe that Panasonic's PanaHome takeover bid substantially undervalues minority shareholders' shares. Stand up for your rights!

We believe that Panasonic's buyout of PanaHome substantially undervalues minority shareholders' shares

Our Mission

Panasonic and PanaHome claim that they have carried out an independent process to determine a "fair" takeover price for PanaHome. However, based on our analysis, the takeover price is at a deep discount to the fair value of PanaHome. The takeover price only benefits Panasonic and as such is a direct transfer of value away from PanaHome's minority shareholders to the majority shareholder, Panasonic - this is a clear abuse of the principles set forth in the Japan Corporate Governance Code. 

Japan's current Corporate Governance Code was established in 2015. Although stated adherence to the Code has been embraced by many companies there is still substantial work to be done to ensure full compliance across the entire Japanese market and we believe it is important that prominent companies such as Panasonic take a lead role in applying good corporate governance, instead of undermining it and with it the confidence of all shareholders.

Improved corporate governance is good for the Japanese market. It is good for all investors in the market. As such, we believe you should care and help change Japan corporate behavior for the better. 

“Securing the Rights and Equal Treatment of shareholders
...companies should secure effective equal treatment of shareholders.
Given their particular sensitivities, adequate consideration should be given to the issues and concerns of minority shareholders and foreign shareholders for the effective exercise of shareholder rights and effective equal treatment of shareholders”
— Corporate Governance Code in Japan - General Principle 1