“Momentum is starting to build. More institutional funds signing up to Japan’s Stewardship Code has the potential to significantly change the landscape for both companies and activists.”
Geoff Serednesky, Managing Director
Country:
Japan
Average % of insider ownership:
Activism
Threat Level
To learn more about this country, please click on the tabs below
Activism approaches in Japan remain subtler and often behind closed doors, potentially muting the reported campaign numbers in the media.
Shareholders reaching or exceeding the five percent and ten percent thresholds must disclose their ownership. Foreign investors may face anti-trust laws when intending to buy stakes in excess of 10 percent in certain industries.
Japan allows the issuance of new shares, whereby activists could face dilution if they fail to comply.
Top Campaigns by Type
1. Dividends
2. Removal of CEO or Other Board Member
3. Oppose Takeover Terms
Campaigns By Year
Total
Campaigns
Notable Invested Activists
• Murakami and C&I Holdings Co.
• Well Investments Research
• Strategic Capital, Inc.
Recent activism campaigns
| Hitachi Kokusai Electric Inc. | VS. |
Elliott Management |
| Alpine Electronics Inc | VS. |
Oasis Management Company (Oasis Capital) |
| Tokyo Broadcasting System Holdings | VS. |
Asset Value Investors |
Total Active
Campaigns
Contact FTI Consulting
Capital Markets Research and Activist Engagement
Managing Director
+1 312 861 4721
Geoff.Serednesky@FTIConsulting.com
Senior Director
+852 3768 4545
James.Jarman@fticonsulting.com