Mitsui Fudosan shares hit record high after Elliott reportedly calls for over $6.5 billion share buyback
Publishing timestamp: 2024-02-05 00:45:22
Summary
The article reports that Elliott Management has called upon Mitsui Fudosan, Japan's largest property group, to launch a 1 trillion yen buyback plan. Elliott also demanded that the company sell down its stake in Oriental Land, which runs Tokyo Disneyland. The pressure on corporate Japan to improve their balance sheets is increasing, and even previously untouchable companies like Mitsui Fudosan are now being targeted. The demand for a buyback plan caused Mitsui Fudosan's shares to surge, but the demand to sell down its stake in Oriental Land caused shares of Oriental Land to fall.
Sentiment: MIXED
Tickers: 8801.T-JP, 4661.T-JP,
Keywords: mitsui fudosan co ltd, japan, stock markets, business news, asia economy, east asia, oriental land co ltd, asia news, china,