Nintendo: 81st Annual General Meeting of Shareholders dated, list of proposals

Today, Nintendo announced that their 81st Annual General Meeting of Shareholders will take place on June 29th, at 10AM JST (3AM CEST, 2AM BST / June 28th 9PM ET, 6PM PT). At this pretty important event, shareholders will have to vote for various proposals, with the most important one being the re-election of Directors.

The meeting will also be about the following:

  • The Business Report, Consolidated Financial Statements for the Company’s 81st Fiscal Year (April 1, 2020 – March 31, 2021) and results of audits by the Accounting Auditor and the Audit and Supervisory Committee of the Consolidated Financial Statements
  • Non-Consolidated Financial Statements for the Company’s 81st Fiscal Year (April 1, 2020 – March 31, 2021)

Here’s the list of proposals for this 81st Annual General Meeting of Shareholders :

  • Proposal No. 1: Distribution of Surplus [note: how the money made during the previous Fiscal Year) will be used
  • Proposal No. 2: Election of Six Directors (excluding Directors who are Audit and Supervisory Committee Members)

About Proposal No. 2 (the most important, by far), here’s the list of Directors to be elected or re-elected:

  • Shuntaro Furukawa (Director, Representative Director and President): re-election
  • Shigeru Miyamoto (Director / Representative Director / Fellow): re-election
  • Shinya Takahashi (Director / General Manager, Entertainment Planning & Development Division / Supervisor of Business Development Division, Development Administration & Support Division / Senior Managing Executive Officer): re-election
  • Ko Shiota (General Manager, Platform Technology Development Division / Director / Senior Executive Officer): re-election
  • Satoru Shibata (Outside Director of The Pokémon Company, Director / General Manager, Marketing Division / General Manager, Licensing Division / In charge of Planning Department): re-election
  • Chris Meledandri (Founder of Illumination Entertainment CEO of Illumination Entertainment): election as Outside Director Independent Officer.

The nomination of Chris Meledandri may come as quite the surprise, but Nintendo does have a good reason for wanting him as Outside Director:

Mr. Chris Meledandri, founder of Illumination Entertainment, has gained extensive experience creating films as a producer. We request his election as a new Outside Director with the expectation that he will provide valuable advice, while appropriately supervising our company’s management from an objective perspective, based on his broad experience and insight gained as a CEO and in the field of entertainment.

The convocation notice mentions an interesting tidbit regarding the upcoming Super Mario animated movie: Nintendo expect revenue received by Illumination from the film distributor to amount to within 2% of consolidated sales of the most recent Fiscal Year.

As usual, it’s highly unlikely shareholders will vote against any of the proposals, but it will be interesting to see the approval rating for each Director up for (re-)election, especially Shuntaro Furukawa, who became President of Nintendo on June 28th, 2018. Considering Nintendo did break record for highest operating profit earned in a Fiscal Year by a console maker during the past Fiscal Year, there most likely won’t be that many discontent investors!

Source: Nintendo



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