Jimoto Holdings Resumes Preferred Share Dividends, Exits Government Control; Taiyo Holdings Rejects President’s Reappointment Amid Shareholder Opposition

Jimoto Holdings (HD), the regional banking group overseeing Sendai Bank and Kirayaka Bank, held its annual shareholders meeting in Yamagata City on June 19, 2025. Shareholders approved a proposal to resume dividend payments on preferred shares held by the government, enabling the company to exit from effective government control. This marks the first dividend distribution on these shares in a year. Separately, Taiyo Holdings faced a shareholder vote on June 21, 2025, where the reappointment of President Sato as a director was rejected. Opposition came from major shareholders including the founding family, DIC, and a Hong Kong-based fund that called for a vote against the reappointment.