Oasis in the news

Any examples of strategies, trade ideas, or case studies are intended for illustrative and discussion purposes only, and are not necessarily indicative of the historical or future strategy or performance or the chances of success of any particular strategy. There can be no assurance that investment opportunities described herein will become available in the future. It should not be assumed that any investments described by any models would be profitable if implemented because among other things, assumptions described herein may not materialize. Any specific investments or case studies referenced in this presentation were selected for inclusion herein based on objective, non-performance based criteria solely for the purpose of describing the investment processes and analyses used by Oasis to evaluate such investments. A list of historical investments – including investments that lost money — can be made available upon request. As always, past performance is not necessarily indicative of future results.

29

February 2024

Aeon embarks on industry restructuring: A 10-trillion-yen company at last, Aeon has succeeded in cajoling Tsuruha and Welcia into a merger

The Nikkei

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29

February 2024

JAE completes tender offer for its own shares; NEC applied even amid shareholder objection

The Nikkei

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29

February 2024

Tsuruha and Welcia to merge by 2027, led by Aeon

The Nikkei

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29

February 2024

Aeon’s long-held dream of conducting a major drugstore industry reorganization under the banner of fostering ‘global companies’

The Nikkei

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29

February 2024

Welcia-Tsuruha merger sparks drugstore industry reorganization: A major alliance worth 2 trillion yen in [annual] sales is born

Yomiuri Shimbun

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29

February 2024

Tsuruha Holdings to become part of Aeon and merge with Welcia Holdings by end of 2027

Hokkaido Shimbun

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29

February 2024

Competition Intensifies: Restructuring looms closer – Tsuruha to become part of Aeon – Trigger for talks with ‘activist shareholder’

Hokkaido Shimbun

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28

February 2024

JAE share price down by 3% due to continued selling following the rejection of Oasis’ injunction over soon-to-expire tender offer

Nikkei QUICK News

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28

February 2024

Japan retailer Aeon to merge with drugstore chains Tsuruha and Welcia

Reuters

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27

February 2024

Hazama Ando tops expected dividends ranking despite decrease in net profit – Financial Results Ranking (#2): Expected dividend yields for the fiscal year ending March 31, 2024

The Nikkei

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27

February 2024

The Present and Future of Governance – Tokyo Disney operator’s shares targeted again; Mitsui Fudosan invests as part of its ‘core business’

Nikkei Business

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26

February 2024

Fund files injunction against NEC’s sale of subsidiary shares

The Nikkei

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26

February 2024

Tsuruha HD shares temporarily up 14% on possibility of merger with Welcia HD

The Nikkei

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26

February 2024

Hong Kong investor files court injunction on NEC’s JAE stake sale

Reuters

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26

February 2024

Oasis files injunction to stop NEC from tendering shares as part of JAE buyback

Reuters Japan

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26

February 2024

Oasis files injunction against NEC’s application to JAE tender offer

Bloomberg Japan

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26

February 2024

Tsuruha and Welcia merger being considered: With Aeon as a shareholder, the resulting company would become Japan’s 4th-largest retailer

Hokkaido Shimbun

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25

February 2024

Drugstores becoming increasingly ‘mega-sized’: Welcia x Tsuruha merger under consideration; resulting company would be Japan’s 4th-largest retailer

The Nikkei

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12

February 2024

Oasis says it opposes Taisho Pharma’s $5bln management buyout

Reuters

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12

February 2024

Oasis opposes Taisho Pharmaceutical MBO, says price is ‘too low’

Reuters Japan

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07

February 2024

More global activists than ever before, particularly at Japanese and European companies

The Nikkei

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02

February 2024

Retail reshuffling reflects shrinking domestic consumption

The Nikkei

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31

January 2024

Aeon Co. leads retail restructuring: industry to witness birth of drugstore coalition worth ¥2 trillion in annual sales amid [Aeon’s] acquisition of Tsuruha shares, increasing stake to more than 25%

The Nikkei

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30

January 2024

Aeon to increase its stake in Tsuruha to 26%, negotiating with Hong Kong fund to potentially create major alliance

Hokkaido Shimbun

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30

January 2024

Aeon to buy more Tsuruha shares, negotiating with fund in hopes of creating giant drugstore alliance

The Nikkei

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29

January 2024

Aeon negotiating to acquire shares in Tsuruha, which together with industry leader Welcia would bring total [annual] sales to more than 2 trillion yen… will there be an industry reorganization?

Yomiuri Shimbun

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29

January 2024

Aeon begins exclusive negotiations with Oasis for acquisitions of Tsuruha shares

Reuters

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29

January 2024

Japan’s Aeon in exclusive talks to buy Tsuruha stake from Oasis

Reuters

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26

January 2024

As China’s markets stumble, Japan rises toward record

New York Times

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24

January 2024

Activist shareholders triple presence in 5 years, following Japanese firms’ P/B ratio reforms

The Nikkei

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