Kadokawa CEO Support Plummets Amid Shareholder Activist Pressure

Shareholders of the Japanese media and gaming giant Kadokawa re-elected CEO Takeshi Natsuno with 59.68% support during the annual general meeting held on June 25, 2026. This figure marks a significant decline from the 90% approval rating the executive received last year. The outcome follows a targeted campaign led by Hong Kong-based activist investor Oasis Management to remove him from his position.

Oasis Management sought to unseat Natsuno by highlighting stagnant profitability and concerns regarding the company's long-term business performance. While the board had previously defended Natsuno, citing the current absence of a clear management succession plan, proxy advisory firms publicly urged shareholders to oppose his re-election. The vote underscores a broader trend in Japan where activist investors are increasingly challenging corporate leadership to address perceived underperformance.

In response to the weakened mandate, Kadokawa has committed to a comprehensive review of its management structure, executive compensation policies, and medium-term strategic initiatives. The company faces ongoing pressure to demonstrate growth and governance improvements to regain investor confidence. Market analysts note that this vote aligns with a growing movement of shareholders in Japan proactively demanding greater accountability from senior corporate executives.