The hedge fund is at the forefront of growing activist activity in Japan which is pushing companies to accelerate governance reforms and reshape portfolios.
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Elliott believes Mitsui OSK should conduct a review of its real estate portfolio and consider relisting subsidiary Daibiru, the sources familiar with the matter also said.
In 2022 Mitsui OSK made Daibiru, whose assets include commercial property in central Tokyo, a wholly owned subsidiary and delisted the company.
Reuters could not immediately determine the size of the stake. Mitsui OSK’s shares extended gains and were up 11% after Reuters reported the investment.
Mitsui OSK declined to comment on discussions with investors. The sources declined to be named as the information is not public.
Elliott in a statement said
Exclusive: Elliott takes ‘significant’ stake in Japan shipper Mitsui OSK
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