Oasis seeks shareholder meeting at Kobayashi Pharma amid yeast scandal

Activist investor wants independent directors and new investigator at Japanese drugmaker

Kobayashi Pharmaceutical's red yeast supplement has been linked to dozens of deaths. (Photo by Koji Uema)

KENTA ANDO and NEO JIMBO, Nikkei staff writers

December 3, 2024 01:50 JST

OSAKA -- Activist investor Oasis Management has requested that Kobayashi Pharmaceutical hold an extraordinary shareholders meeting in response to the scandal surrounding a red yeast supplement linked to dozens of deaths, the Japanese drugmaker said Monday.

The shareholders meeting would be convened to decide on an Oasis proposal to appoint three new independent directors and name Shin Ushijima, a lawyer, as an investigator into the scandal.