TOKYO, June 28 (Reuters) - Activist investor Oasis

Management has called for governance overhaul at scandal-hit Ain

Holdings ( AINPF ), Japan's largest drug store chain, in its

latest activist campaign targeting a Japanese company.

Oasis said there was no independent oversight of management

at Ain and proposed four new outside director candidates as well

as a new compensation plan for outside directors.

In 2023, a director from Ain and another from an Ain

subsidiary were prosecuted for mishandling documents related to

a public contract bid.