Nippon Paper Industries shares resilient amid weak market as City Index Elevens increases stake
Shares of Nippon Paper Industries Co.,Ltd. <3863> demonstrated resilience on Thursday despite generally weak market sentiment. Although a downward trend has been evident since late May?with the stock price sliding significantly below its 75-day moving average?buying interest emerged on expectations of a valuation correction from oversold conditions, supported by an extremely low price-to-book ratio (PBR) of around 0.2x.
Against this backdrop, an amendment to a large shareholding report filed with the Kanto Local Finance Bureau after Wednesday's market close revealed that Tokyo-based activist investor City Index Elevens, which has ties to the former Murakami Fund, has increased its stake in the company. Including shares jointly held with Aya Nomura, the ownership ratio rose to 6.44% as of May 27, up from 5.11% in the previous disclosure. The stated purpose of the holding includes providing "advice and proposals on capital policy and corporate governance that contribute to enhancing shareholder value," fueling market expectations for the stock's upside potential.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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