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Nippon Express shares make record jump as Elliott takes stake

The Japan Times·Lisa Du·about 1 month ago
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#elliottinvestmentmanagement#nipponexpress#investments#stocks#iranwar#nippon
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A Nippon Express logistics facility in Tokyo. Elliott Investment Management has bought a 5% stake in the Tokyo-based logistics company. | BLOOMBERG Elliott Investment Management has built a stake in Nippon Express Holdings, sending the logistics company’s stock to a fresh record as the activist fund ramps up its investment activity in Japan. Shares of Nippon Express jumped as much as 18%, the biggest intraday gain ever, after the U.S. hedge fund disclosed a 5.04% stake in the Tokyo-based company. While it’s not yet clear what Elliott’s intentions are with Nippon Express, the firm has focused many of its Japan investments on companies with large holdings of real estate that are not accounted for at market value. Paul Singer’s Elliott has in the past pushed for target companies to sell and lease back real estate, and use the proceeds to buy back shares. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.…

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