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NICHIREI CORPORATION shares surge as Oasis emerges as major shareholder, rebounding sharply from bottom
NICHIREI CORPORATION <2871> surged on buy orders, rebounding swiftly from its recent lows. The processed and frozen food specialist holds the top market share in Japan's cold storage sector. A large shareholding report filed on May 29 showed that Hong Kong-based activist fund Oasis Management's stake in NICHIREI had crossed the 5% threshold to reach 5.01%. The filing noted that Oasis "may make important proposals to protect shareholder value," fueling expectations of further upside in the stock. Based on Friday's close, the company offers a dividend yield of 3.65%, with return on equity (ROE) at 10%.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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