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TSURUMI MANUFACTURING Surges on Increased Stake by Dalton Investments
TSURUMI MANUFACTURING CO.,LTD. <6351> surged significantly, rebounding for the first time in four days. The rally followed the disclosure in an amended report filed with the Kanto Local Finance Bureau after the close of trading on the 31st, which revealed that U.S. investment advisory firm Dalton Investments had increased its shareholding from 11.67% to 12.69%. The move appears to have triggered speculative buying based on supply-demand dynamics. The purpose of the holding is stated as "long-term investment as the share price is considered undervalued and presents an attractive investment opportunity," and the firm noted that "there is a possibility of seeking constructive dialogue regarding corporate governance, board composition, management, business operations, financial condition, and strategy." The report indicates that the obligation to file arose on the 24th.
Source: MINKABU PRESS
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