
This investment is part of a broader trend of activist investing in Japan, where Elliott has been targeting various companies to enhance shareholder returns. The exact size of Elliott’s stake in Sumitomo Realty & Development Co. is described as “significant,” although the precise percentage has not been disclosed
It’s worth noting that Elliott has also acquired stakes in other Japanese companies:
1.Sumitomo Corp: Elliott has built a “large” stake worth “several tens of billions of yen” in this trading house
2.Mitsui Fudosan Co: Elliott previously targeted this developer, leading to asset sales and increased buybacks
3.Other past targets: Toshiba Corp, SoftBank Group Corp, and Dai Nippon Printing Co
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