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SANYO DENKI drops sharply for first time in three days as Strategic Capital reduces stake
Shares of SANYO DENKI CO., LTD. <6516> plummeted on Tuesday, snapping a two-day winning streak, after it was revealed that prominent activist investor Strategic Capital had trimmed its stake in the company. The sell-off was triggered by an amendment report filed after the close on Monday, June 1, showing that the Tokyo-based fund reduced its shareholding ratio to 14.84% from 15.89%. According to the filing submitted to the Kanto Local Finance Bureau, the reporting obligation arose on May 25. While Strategic Capital maintained that the purpose of its investment includes engaging in constructive dialogue and making key proposals to enhance shareholder value, its partial divestment fueled near-term selling pressure.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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