Navigation Links
Brandes Proposes 130 yen per Share Dividend and 10 Million Share Buyback Program for Ono Pharmaceutical Annual Meeting
Date:4/15/2008

assets still would be more than sufficient, in Brandes' estimation, to support the Company's pursuit of business-enhancing opportunities. For more details on the rationale for the proposals, please see the attached shareholder proposal excerpt for reference.

Brandes is a U.S. registered investment advisor. Located at 11988 El Camino Real, Suite 500, San Diego, California, 92130, Brandes managed approximately US$93.4 billion on behalf of institutional and individual investors, as of March 31, 2008.

Direct excerpt from Shareholder Proposal

(III) Reasons

These proposals reflect the belief that the Company should maintain a balance sheet that is consistent with its core business as a pharmaceutical company, and that capital well in excess of such needs should be returned to its shareholders.

Firstly, by increasing the total annual dividend to 220 yen per share (including the interim dividend of 90 yen per share), we expect the Company to continue to increase the payout ratio and prevent further accumulation of cash in the future.

As of December 31, 2007, 73% of the Company's total assets or approximately 350.8 billion yen was comprised of cash, marketable securities and investment securities including cross-shareholdings (hereafter referred to as "Financial Assets"), the majority of which is unrelated to the Company's operations as a pharmaceutical company. The magnitude of Financial Assets held goes well beyond what it legitimately needs in order to fund its operations as a pharmaceutical company, and is well in excess of the industry average of 45%, which has also been criticized as excessive.

In addition, the return that the Company earns on its Financial Assets is less than 1% on an annualized basis, well below its estimated cost of capital and exhibits no improvements.

Secondly, the share buyback proposal aims for the reduction of excess capital and it is intended for the Company to cancel all shares upon rep
'/>"/>

SOURCE Brandes Investment Partners, L.P.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine news :

1. FDA Proposes New Rules for Sunscreens
2. Carnegie Mellon neuroscientist proposes new theory of brain flexibility
3. Lake Forest Hospital Proposes a New Health Care System in Lake County
4. California Stem Cell Agency Proposes Unjustified Increase in Top Salary Ranges
5. HRSA Proposes Rule to Revise, Combine HPSAs, MUPs
6. National Patient Safety Foundation Proposes Universal Patient Compact
7. CardioDynamics Board of Directors Proposes Reverse Split 1:7 of Companys Shares
8. Governor Rendell Proposes County Grants to Combat West Nile Virus, Protect Public Health
9. Navigenics Proposes Standards for Personal Genomics Services, Coupled With Prospective Outcomes Studies, to Safeguard Consumers
10. Many Parents Share Genetic Test Findings With Kids
11. AWWA, National Association of Water and Sanitation of Mexico, Agree to Share Expertise and Resources for Improved Water Supply
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/11/2014)... 2014 Riverside Health System became the first ... Virginia in late 2012 and now, in partnership with Williamsburg ... throughout the Williamsburg and Newport News region. , Also known ... benefits to independent older adults who wish to remain in ... net of continuing care services as well as control over ...
(Date:7/11/2014)... scientists have been trying to unravel mechanisms that guide ... that generate all blood cells including our immune system. ... because they can only be found in the bone ... a culture dish. Now a group of scientists from ... (Technische Universitt Dresden) was able to generate a mouse ...
(Date:7/11/2014)... Salt Lake City, UT (PRWEB) July 11, 2014 ... hard at work at the Kilimanjaro Kids Community in Tanzania. ... children, 40 goats, 150 chickens, and two cows. HOP Founder, ... and provide education for some of the orphaned children he ... week, the HOP Team visited the children, who have all ...
(Date:7/11/2014)... San Francisco shows that an "expressive therapy" group ... living with HIV disclose their health status and ... and quality of their relationships., "Medication alone is ... L. Machtinger, MD, director of the Women,s HIV ... patients are on effective antiretroviral therapy but far ...
(Date:7/11/2014)... July 11, 2014 Recently, iFitDress.com, a ... occasion outfits, has released its new collection of ... the company has announced that all these beautiful items ... The deadline of the special offer is July 22. ... major officials pay close attention to customer satisfaction. On ...
Breaking Medicine News(10 mins):Health News:Riverside and Williamsburg Landing Partner to Offer First of Its Kind Service to Virginians Who Want to Age in Place 2Health News:Riverside and Williamsburg Landing Partner to Offer First of Its Kind Service to Virginians Who Want to Age in Place 3Health News:Riverside and Williamsburg Landing Partner to Offer First of Its Kind Service to Virginians Who Want to Age in Place 4Health News:Opening-up the stem cell niche 2Health News:Human Outreach Project Sees Incredible Progress in the Kilimanjaro Kids Community 2Health News:'Expressive therapy" intervention assists women living with HIV 2Health News:Worldwide Chic Ladies Can Buy Cheap Evening Dresses at iFitDress.com 2
... challenges in managing their blood glucose levels, and it ... system providing continuous real-time glucose readings. Today, The Endocrine ... on settings where patients are most likely to benefit ... way to self-check blood glucose levels is to prick ...
... caught in its early stages, prostate cancer is treatable ... threshold, the disease becomes largely resistant to current treatments. ... of cancer biologists $9.55 million over five years to ... progresses to the therapy-resistant state. The Program Project ...
... Netherlands, 11 October 2011 Alzheimer,s disease (AD) is ... the world. A new supplement to the ... clearly shows that multiple imaging systems are now available ... "Alzheimer,s disease is now seen as a ...
... published in the October issue of the Journal of ... breast malignancies accounting for 0.5 to one percent of all ... patients. Population-based estimates indicate that the incidence of malignant phyllodes ... frequencies in Hispanic women. Previous studies have focused on ...
... the start of 2011, the active ingredient ticagrelor can ... (ASA) to avoid blood clots in patients with acute ... Quality and Efficiency in Health Care (IQWiG) has now ... coronary syndrome (ACS) in comparison with conventional drugs. This ...
... team of researchers, Gloria Petersen, Ph.D. , of ... California, San Francisco, and Susan Wolf, J.D., of the University ... the National Cancer Institute and the National Human Genome Research ... genetic research results, such as DNA test results, from tissue ...
Cached Medicine News:Health News:Experts find continuous glucose monitoring beneficial in maintaining target blood glucose levels 2Health News:$9.55 million NCI grant targets the resistance of advanced prostate cancer 2Health News:Advances in brain imaging can expedite research and diagnosis in Alzheimer's disease 2Health News:Advances in brain imaging can expedite research and diagnosis in Alzheimer's disease 3Health News:Hispanic women have higher incidence of rare breast tumor 2Health News:Ticagrelor: Considerable added benefit for specific patients 2Health News:Ticagrelor: Considerable added benefit for specific patients 3Health News:Ticagrelor: Considerable added benefit for specific patients 4
(Date:7/10/2014)... 10, 2014   LabStyle Innovations Corp . ... announced the appointment of Professor Richard B. ... Board of Directors. Prof. Stone brings ... to LabStyle as an entrepreneur, venture capitalist public, ... governance expert. He currently serves on the board ...
(Date:1/15/2014)... 2014 Most osteoporosis patients want a choice in ... survey* sponsored by Mission Pharmacal Company. The survey, conducted ... online support community, revealed that 74 percent of osteoporosis ... a form other than a pill or a tablet. ...
(Date:1/15/2014)... , Jan. 15, 2014  Celsion Corporation (the "Company") (NASDAQ: ... commitments from institutional investors to purchase an aggregate of ... an at-the-market registered direct offering, led by a dedicated ... definitive purchase agreements with these investors pursuant to which ...
Breaking Medicine Technology:LabStyle Innovations Welcomes Richard B. Stone to its Board of Directors 2LabStyle Innovations Welcomes Richard B. Stone to its Board of Directors 3LabStyle Innovations Welcomes Richard B. Stone to its Board of Directors 4Mission Pharmacal Conducts Online Survey of Osteoporosis Patients 2Mission Pharmacal Conducts Online Survey of Osteoporosis Patients 3Celsion Corporation Announces $15 Million At-The-Market Registered Direct Offering 2Celsion Corporation Announces $15 Million At-The-Market Registered Direct Offering 3
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
Medicine Products: