Billionaire Daniel Loeb is starting to make a habit of looking for bargains in Japan.
In his fourth foray in two years in the country, the New York-based activist investor has taken a stake in Suzuki Motor Corp. The investment comes after Loeb's Third Point LLC pushed for change at robot-maker Fanuc Corp., Sony Corp. and jet engine-maker IHI Corp.
Loeb has described a shifting zeitgeist in Japan, driven by Prime Minister Shinzo Abe's efforts to improve corporate governance. While disclosing its Suzuki investment in a letter to shareholders, Loeb extolled Abe's push for new governance practices and for encouraging companies to deploy cash to help reinvigorate the country's economy.