US Fund Demands Yamato Holdings Chairman Step Down
Listen to the story
A US fund wants a big change at Yamato Holdings. Yamato is a Japanese company. It delivers packages to people's homes.
The fund is called Farallon. Farallon is from the United States. It owns 5% of Yamato shares.
Yutaka Nagao is the chairman of Yamato. Farallon wants him to leave his job on the board.
Farallon says Yamato needs new management. The fund wants the company to change how it works.
A fund that owns shares in a company can ask for changes. This is called shareholder power.
Farallon has not given many details yet. But it wants Nagao to step down soon.
Yamato has not said much yet. People want to know what the company will do next.
Vocabulary10 words
- fund
- a company that uses money to buy parts of other companies
- chairman
- the top person who leads a company's board
- management
- the people who run a company
- shareholder
- a person or company that owns part of a business
- shares
- small parts of a company that people can own
- board
- a group of people who make big decisions for a company
- deliver
- to take something to a person's home
- step down
- to leave a job, usually an important one
- holdings
- a company that owns other companies or parts of them
- own
- to have something that belongs to you
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Quiz
Answer key
1. Yamato's chairman to leave the board 2. 5% 3. A delivery company
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
A US _____ wants a big change at Yamato Holdings. Yamato is a Japanese company. It _____ packages to people's homes.
The fund is called _____. Farallon is from the United States. It owns _____% of Yamato shares.
Yutaka Nagao is the _____ of Yamato. Farallon wants him to leave his job on the _____.
Farallon says Yamato needs new _____. The fund wants the company to change how it works.
A fund that owns shares in a company can ask for changes. This is called _____ power.
Farallon has not given many details yet. But it wants Nagao to _____ soon.
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