News & Resources

RiskMetrics Highlights Steel Partners Japan Proxy Contests

February 5, 2010

RiskMetrics Group, a leading U.S. proxy advisory firm, recently highlighted Olshan’s client, Steel Partners Japan, in its publication “Risk & Governance Weekly” as Steel attempts to build on its historic victories in 2008 and 2009 despite the trend away from pressing corporate Japan to reform governance and maximize shareholder value. Steel recently scored a rare, historic victory for shareholder activism in Japan as shareholders of Aderans Holdings, a Japanese wig maker, elected to Aderans' board of directors all of Steel’s candidates enabling a revamp of corporate strategy. Steel, the largest shareholder in Japanese brewer Sapporo, has proposed nominating 10 candidates, six new candidates and four incumbents to Sapporo’s board.

Steve Wolosky, Kenneth Silverman and Johnathan Duncan comprise the Olshan team that represent Steel.