Daily Journal Corporation announced it filed definitive proxy materials with the SEC for its 2026 Annual Meeting of Shareholders and mailed a letter to shareholders.

Daily Journal Corporation (Nasdaq: DJCO) (the “Company” or “we”) today announced that it has filed its definitive proxy materials with the Securities and Exchange Commission in connection with its 2026 Annual Meeting of Shareholders (the “Annual Meeting”) scheduled to be held on February 24, 2026. Shareholders of record as of the close of business on December 16, 2025 will be entitled to vote at the Annual Meeting.

In conjunction with the definitive proxy filing, the Company has mailed a letter to shareholders from CEO and Chairman of the Board of Directors (the “Board”) Steven Myhill-Jones. Highlights from the letter include:

The Company’s strategy is producing strong financial results. In fiscal year 2025, our Journal Technologies business delivered record revenue driven by strong growth in consulting, e-filing and other public service fees, and recurring license and maintenance revenues. Journal Technologies remains focused on modernizing the platform and optimizing implementation performance to grow its installed customer base and recurring revenue. Our Traditional Publishing business succeeded in growing its revenue and managing the costs it directly controls. Looking ahead, the Traditional Publishing business aims to maximize remaining possibilities by providing value to an evolving subscriber base and managing costs with discipline, including via the use of new technologies like AI to streamline routine workflows. Our Board and management team believe the Company is well-positioned to grow our recurring revenues and create sustained value for shareholders.

 

The Company maintains the core capital allocation approach of our long-time former Chairman, Charles T. Munger. Thanks almost entirely to Mr. Munger’s prudent decisions, the Company today possesses a strong balance sheet, anchored by a concentrated portfolio of marketable securities that has grown to approximately $493 million as of September 30, 2025. We intend to steadily pay down our moderate leverage and be selective on any larger use of capital. Our strong financial position enables us to continue to invest in our products, people and customers, while simultaneously tracking potential strategic investment and acquisition opportunities that would be accretive to the business.

 

Our positive momentum and long-term strategy would be undermined if Buxton Helmsley USA, Inc.’s (“BuHeUI”) self-interested campaign to take control of the Board succeeds. Put simply, BuHeUI’s interests are at odds with those of the Company’s long-term shareholders, employees and customers. Prior to its attempt to replace a majority of the Board, BuHeUI sought to negotiate a lucrative consulting contract for itself based on an erroneous understanding of accounting rules. When that attempt failed, BuHeUI threatened the Company’s directors and officers with retaliatory actions if they did not agree to cooperate with BuHeUI’s scheme. And when that didn’t work, BuHeUI became the registered holder of one share of the Company’s stock after the record date for the Annual Meeting and attempted to nominate director candidates to take over the Board despite articulating no forward-looking strategy for the Company. For these reasons, amongst many others, we urge you to discard and reject any materials received from BuHeUI.

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COMTEX_472269572/2227/2026-01-23T10:16:25