Reported about 8 hours ago
Tokyo Gas Co. is facing pressure from activist investor Elliott Investment Management to reconsider its large real estate portfolio, valued at approximately 1.5 trillion yen ($9.7 billion). As the company prepares to release its annual report this week, it may outline plans regarding these assets, which many see as non-core to its main energy operations. With significant urban properties in prime Tokyo locations, such as the Shinjuku Park Tower, the company is urged to improve capital efficiency and potentially return proceeds to shareholders. Investors are anticipating changes in the company’s strategy following Elliott’s recent acquisition of a 5% stake.
Source: YAHOO