Fujitec, a leading elevator manufacturer based in Hikone, Shiga Prefecture, held an extraordinary shareholders' meeting on the 20th, during which it was decided that the company would go private in March. This move comes as a solution to resolve conflicts with 'activist shareholders,' following a buyout by Swedish investment firm EQT. EQT acquired approximately 80% of the company's shares through a tender offer executed last year, prompting a significant change in the company's ownership structure.

At the shareholders' meeting, a resolution was passed to forcibly buy back shares held by minority shareholders, excluding the founding family's holdings, which will remain at about 10%. The Tokyo Stock Exchange will delist Fujitec from its Prime Market on March 23. The decision to privatize stems from ongoing management turmoil that began in 2022 due to disputes between the founding family and activist investor firms like Oasis Management, and the aim is to refocus on growth and stability following EQT's acquisition.

Fujitec's management accepted the buyout as a necessary measure to navigate the internal conflicts and prioritize the company's operational strategies moving forward. This shift to privatization could potentially enhance its organizational focus and allow for streamlined decision-making processes, which are currently hindered by shareholder disputes. The outcome of this move could have significant implications for the company's future and its ability to grow in a competitive market.