Shin Dong-ju "Will Continue to Strive for Stability in Lotte Group Management"

Shin Dong-ju, Chairman of SDJ Corporation

[Asia Economy Reporter Lee Seung-jin] Shin Dong-joo, chairman of SDJ Corporation, stated on the morning of the 24th in Tokyo, Japan, regarding the results of the Lotte Holdings regular shareholders' meeting, "We will continue to strive for the stabilization of Lotte Group's management."

At the regular shareholders' meeting that day, the proposals submitted by Chairman Shin Dong-joo to dismiss Shin Dong-bin, chairman of Lotte Holdings Japan, and to amend the articles of incorporation were all rejected.

Earlier in April, Shin Dong-joo, as the representative and shareholder of Kwangyoon-sa, the largest shareholder of Lotte Holdings, submitted a shareholder proposal including the dismissal of director Shin Dong-bin and an amendment to the articles of incorporation to prohibit individuals proven guilty of criminal acts from holding director positions.

In the statement titled "Notice on the Results of the Lotte Holdings Regular Shareholders' Meeting and Future Plans," released immediately after the Lotte Holdings regular shareholders' meeting, Shin Dong-joo said, "This shareholder proposal was made as the representative and shareholder of Kwangyoon-sa, the largest shareholder of Lotte Holdings, to ensure the proper operation of the Lotte Group, and at the same time, it was a fundamental request to continue the legacy of the late honorary chairman Shin Kyuk-ho and to lead the group's compliance management."

He added, "With the rejection of the proposals, we are considering legal action regarding the matter in accordance with Article 854 of the Japanese Companies Act, and we will continue multifaceted efforts to stabilize the management of Lotte Group in the future."

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