Warren Lichtenstein’s Steel Partners said Monday it has asked Japanese confectioner Ezaki Glico Co. to cut costs, expand overseas businesses and sell cross-shareholdings to boost earnings and investor returns.
The fund sent a 31-page presentation to Osaka-based Ezaki Glico last month, Steel Partners Japan Strategic Fund (Offshore) L.P. said in an e-mail statement. Steel Partners is Ezaki Glico’s largest shareholder, with a 14.4 percent stake, according to the statement.
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