Oasis扬言召集Nidec临时股东大会改组董事会，并可能大幅增持，同时公司面临东证所退市审查

TOKYO -- Oasis Management is considering calling an extraordinary shareholder meeting at troubled Japanese motor maker Nidec, as the Hong Kong activist investor seeks to revamp oversight at the company, which last month reported a historic loss for the last fiscal year amid a massive accounting scandal.
The measures Oasis is pushing for include adding foreign members to the board and having a more proactive nomination committee that evaluates board performance and identifies candidates who can more effectively oversee management.
"If they don't go ahead and take action quickly on that front, we're going to have to call an EGM (extraordinary general meeting)," said Seth Fischer, the founder and chief investment officer.
He was speaking at the Sohn Investment Conference in Tokyo on Friday.
Oasis owns 9% of Nidec's outstanding shares, making it the company's largest single shareholder. Nidec founder Shigenobu Nagamori, an 82-year-old known for berating his executives, owned 8.6% of the company outright and another 3.5% through a family-controlled entity as of March 31.
Nagamori was pushed out of Kyoto-based Nidec in February amid an investigation by an independent committee into allegations that the company had engaged in improper accounting for years.
Fischer on Friday said Oasis could increase its Nidec holdings "substantially ... depending on price and some other factors."
Under Japanese law, a shareholder that has held at least 3% of voting rights for six months can request that a company convene an EGM. Oasis's stake in Nidec first came to light on March 11.
In September, Nidec installed its fourth president in six years, seeking a fresh start after more than four years of turmoil marked by Nagamori's interventions in management as founder and largest shareholder.
"Nidec is a microcosm of the things that can go wrong at companies when governance isn't working," Fischer said. "In this case, you had a founder who was the president, chairman and later honorary chairman. He was extraordinarily powerful and had no real governance oversight above him. There was nobody to hold him accountable."
With its special designation over irregular accounting allegations reaching the one-year mark at the end of this month, Nidec faces a Tokyo Stock Exchange review. If the company fails to establish appropriate internal controls to the regulator's satisfaction, it could face delisting. On Oct. 7, Oasis urged Nidec to explore privatization options while it works on revamping its internal controls.