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Article: Steel Partners Japan Calls on Ezaki Glico to Improve Performance; Explore Strategic Alternatives.
- Article from:
- Business Wire
- Article date:
- May 13, 2008
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TOKYO -- Steel Partners Japan Strategic Fund (Offshore), L.P. ("SPJSF") today sent to Ezaki Glico Co., Ltd. (TOKYO:2206) ("Glico" or the "Company") a letter urging the Company to take steps to improve operating performance or explore strategic alternatives, including the possible sale of the Company.
"We believe the Company has tremendous assets, particularly the Pocky and Pretz brands as well as dedicated employees," Warren Lichtenstein, Managing Partner of SPJSF wrote. "However, we believe that Glico's management has lost focus and has failed to make any meaningful contribution to grow corporate value or to lead Glico to its full potential."
In the ...