On May 9, 2024, Sumitomo Densetsu Co.,Ltd. announced in its press release that it had received a shareholder proposal from Monex Asset Management, Inc. for its 99th Annual General Meeting of Shareholders. The proposal is as follows, i) Appropriation of Surplus. The company has opposed the proposal stating that the year-end dividend payment of 122 yen as proposed by the shareholder is not in line with the shareholder return policy of the medium-term management plan "VISION24," which calls for stable dividends based on future changes in the business environment and the need for ongoing business investment.
The Company will continue to appropriately consider the level and method of shareholder returns, taking into account the Company's medium- to long-term growth strategy, financial condition, and return on capital, while listening to the various opinions of its shareholders.
Sumitomo Densetsu Co Ltd is a Japan-based company mainly engaged in the equipment work business. The Company provides electric power supply work, general electric work, information communication work, plant and air conditioning work and other equipment work, as well as related engineering services. The electric power supply work is mainly engaged in the design, construction and supervision of transmission and distribution equipment. The general electric work is engaged in the design, construction and supervision of electrical installation work and environment related work. The information communication work is engaged in the design, construction and supervision of telecommunication equipment work. The plant and air conditioning work is engaged in the design, construction and supervision of plants and air conditioning sanitary tubes. The Company is also engaged in the insurance agency business, the manufacture and repair of equipment, and the manufacture and sale of water heaters.
SUMITOMO DENSETSU CO.,LTD. 
