Natsuno stayed CEO of Kadokawa as Oasis rose to 15.25%

Kadokawa chief executive Takeshi Natsuno kept his post in the annual shareholder vote. The pressure came from the Hong Kong fund Oasis Management. The fund accused management of weak monetization and of letting profit from the hit Elden Ring leak away from the company.

Right after the clash Oasis raised its Kadokawa stake to 15.25% and plans to keep growing it, so the argument over reforms can continue. In the spring the holding was about 8.86%. In a few months the bet has grown sharply.

The board kept Natsuno in place to avoid shaking the business, but the company officially promised to review how it is governed and to make that structure easier to see. The fund is not stepping back. It is preparing new demands on who sits in management and on dividends.

Players in this story are not watching the accounts. They are watching FromSoftware. Hidetaka Miyazaki answered quickly that the developers still have full freedom over which games they make.