Southeastern Asset Management, Inc., NIPPONKOA’s largest shareholder, announced today that it will vote against Makoto Hyodo, President & CEO, at the June 26, 2008 annual meeting. As previously announced, Southeastern will vote for Junichiro Sano. Southeastern will issue another press release which will explain the reasons for this vote. Southeastern has been a large shareholder of NIPPONKOA since 1998 and is focused on increasing value for all stakeholders of NIPPONKOA.
This press release is intended neither to solicit a proxy from any shareholder of NIPPONKOA, nor to provide advice in relation to the exercise of voting rights by any such shareholder of NIPPONKOA. Each shareholder of NIPPONKOA should exercise voting rights using their own judgment and should not rely on information contained in this press release.
Southeastern recently launched a Japanese website to commemorate its tenth year of investing in Japan. Details on Southeastern's history and approach can be found on the site in Japanese and English at: