Traders are scouring notices of annual general meetings to pick up signals about activist holdings in Japanese companies, and profit from potential spikes in stock prices.
Tucked away at the bottom of a company's annual general shareholder notices is a list of the firm's top 10 shareholders, which includes names of the investors or custodians that may hint at possible activist involvement. Sumitomo Osaka Cement and auto parts manufacturer KYB were among stocks that jumped last week after activist investor Aya Nomura’s name appeared in annual general meeting (AGM) letters, listed as a stakeholder.
Activist investors are growing their influence in Japan, having started 89 campaigns this year compared with last year’s total of 153, according to compiled data. Most campaigns demand disposal of real estate, changes in strategy and stock buybacks.
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