Daniel Loeb's activist hedge fund Third Point LLC called on Sony Corp on Th...
FILE PHOTO: Journalists wait for Sony Corp's new President and Chief Executive Officer Kenichiro Yoshida's news conference on the company's business plan at Sony's headquarters in Tokyo, Japan May 22, 2018. REUTERS/Toru Hanai
This marks the second time in six years that Loeb, one of the world’s most successful activist investors, has targeted the Japanese company, and the first time he has publicly discussed his investment and plans for the company. Third Point began building its stake several months ago and has committed $1.5 billion in capital.
The semiconductor division is “often treated by investors as an afterthought” and should be spun off into a Japan-listed company called Sony Technologies, Loeb said.
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