Shareholder support for CEO of anime and gaming giant Kadokawa tumbles to 59.68%

The CEO of Japanese anime and gaming giant Kadokawa, Takeshi Natsuno, experienced a sharp decline in shareholder support at the company's annual general meeting. Natsuno retained his board seat but secured only 59.68 percent of shareholder votes in favor of his re-election, a significant drop from the 90 percent he received last year.

This outcome reflects a growing trend in Japan where activist investors are increasingly targeting senior executives. Hong Kong-based Oasis Management led a campaign to unseat Natsuno, pointing to declining profitability under his leadership. Proxy advisors also recommended shareholders oppose his re-election, amplifying the pressure.

In response to the vote, Kadokawa announced that the company would review its management structure, executive compensation, and the progress of its medium-term business plan. Earlier in the month, the board had supported retaining Natsuno, citing a lack of a specified successor or alternative management strategy.

Separately, the chairman of electronics manufacturer Kyocera was also re-elected on Thursday, following a different campaign by Oasis Management calling for his removal. The Kadokawa vote highlights shareholder frustration with corporate underperformance and the increasing influence of activist investors in Japan.