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Elliott Pressures Sumitomo Realty in Rare Japan Activist Push
- Elliott Management plans to vote against Sumitomo Realty's senior management at the June 9, 2025 AGM unless governance and value-enhancement initiatives occur.
- Elliott’s position is based on concerns highlighted in a June 8, 2025 letter regarding Sumitomo Realty’s unsatisfactory shareholder returns, high levels of cross-ownership, weakening capital efficiency, and inadequate governance practices.
- Sumitomo Realty holds a dominant Tokyo office real estate position but trades at half its post-tax asset value, with the chairman's approval rating dropping from 95% to 77% by 2023.
- The company’s dividend payout was 17% last fiscal year, about half of its peers', cross-shareholdings represent 26% of net assets, and Elliott advises reforms including higher payouts and reducing cross-shareholdings.
- Elliott’s campaign reflects growing shareholder dissatisfaction and calls for prompt reforms to unlock value, as the upcoming AGM offers shareholders a key opportunity to hold management accountable.
67 Articles
67 Articles
Elliott Calls for Further Action to Enhance Corporate Value and Strengthen Corporate Governance Ahead of Sumitomo Realty's 2025 Annual General Meeting
Elliott plans to vote against members of Sumitomo Realty's senior management at the 2025 AGM absent further corporate-governance and value-enhancement initiatives LONDON, June 8, 2025 /PRNewswire/ -- Elliott Investment Management, L.P. and Elliott Advisors (UK) Limited ("Elliott"), which advise funds that together have a more than 3% ownership stake in Sumitomo Realty & Development Co., Ltd. ("Sumitomo Realty" or the "Company"), making it one of…
Elliott Management Presses Japan's Sumitomo Realty on Value - Mingtiandi
Activist investor Elliott Management has issued a set of demands to Sumitomo Realty & Development, vowing to oppose members of the Tokyo-listed builder’s senior management at a shareholder meeting if corporate governance and value-enhancing initiatives aren’t addressed. In a letter... Read More>> The post Activist Investor Elliott Pressures Japan’s Sumitomo Realty to Boost Shareholder Value appeared first on Mingtiandi.
Elliott pressures Sumitomo Realty in rare Japan activist push
Elliott Investment Management has gone public with a rare activist campaign in Japan, urging Sumitomo Realty & Development to significantly improve shareholder returns and overhaul its governance practices – asserting the company is undervalued by at least 40%, according to a report by Bloomberg. In an open letter published on Monday, the US-based hedge fund warned it would vote against Sumitomo’s senior management at its upcoming J27 une shareh…
Elliott Calls for Further Action to Enhance Corporate Value and Strengthen Corporate Governance Ahead of Sumitomo Realty’s 2025 Annual General Meeting
Elliott plans to vote against members of Sumitomo Realty’s senior management at the 2025 AGM absent further corporate-governance and value-enhancement initiatives LONDON, June 9, 2025 /PRNewswire/ — Elliott Investment Management, L.P. and Elliott Advisors (UK) Limited (“Elliott”), which advise funds that together have a more than 3% ownership stake in Sumitomo Realty & Development Co., Ltd. […] The post Elliott Calls for Further Action to Enhanc…
Elliott Calls for Further Action to Enhance Corporate Value and Strengthen Corporate Governance Ahead of Sumitomo Realty's 2025 Annual General Meeting - PressReach
Elliott Investment Management, L.P. and Elliott Advisors (UK) Limited ("Elliott"), which advise funds that together have a more than 3% ownership stake in Sumitomo Realty &
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