Hong Kong-based activist fund Oasis Management is calling on Japanese company Kao to convene an extraordinary general meeting to investigate supply-chain risk management. The fund cited numerous whistleblower allegations, including potential links to deforestation and human rights violations. Kao stated it is reviewing the request but declined further comment.
Activist fund Oasis Management, based in Hong Kong, called on Kao to hold an extraordinary general meeting on March 5 to commission an independent investigation into the Japanese company's supply-chain risk management and internal controls. The fund stated it had received numerous whistleblower allegations regarding Kao's supply-chain practices, including potential connections to deforestation and human rights violations.
Oasis urged shareholders to support the proposal for an independent review. A spokesperson for Kao said the company is reviewing the request from Oasis and declined to provide further comment.
Following the announcement, Kao's shares in Tokyo pared early gains and fell as much as 0.8%. As a shareholder in Kao, Oasis is pushing for greater transparency.
Kao, a major consumer goods firm, operates a global supply chain. Such activist efforts highlight broader international trends toward stronger corporate governance, though outcomes depend on the investigation's findings.
