Elliott Statement on Mitsui Fudosan Co., Ltd.
LONDON, April 11, 2024 /PRNewswire/ — Elliott Advisors (UK) Limited (“Elliott”), which advises funds that together hold a significant investment in Mitsui Fudosan Co., Ltd. (“Mitsui Fudosan” or “the Company”), today issued the following statement by Elliott Partner Nabeel Bhanji:
“We welcome Mitsui Fudosan’s new Long-Term Vision, which reflects the constructive dialogue that we have had with the Company in recent months. The Company’s announcements mark a positive step forward in its focus on value creation. In particular, we are encouraged by the Company’s decision to meaningfully raise return on equity, asset turnover, and capital return targets; significantly reduce cross shareholdings; and enhance its corporate governance. We look forward to our ongoing engagement with the Company as it continues its transformation.”
About Elliott
Elliott Investment Management L.P. manages approximately $65.5 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.
Media Contacts
London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
[email protected]
Tokyo
Brett Wallbutton
Ashton Consulting
T: +81 (0) 3 5425-7220
[email protected]
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