Hedge funds and asset managers of investment banks have a number of large shorts in Japanese Companies according to information obtained by ValueWalk. AQR Capital and Oxford Asset Management top the list with over 50 Japanese companies held in shorts. Sony Corporation (NYSE:SNE) (TYO:6758), Dan Loeb’s favorite long these days, is also repeatedly targeted by short sellers. Gree,Inc. (TYO:3632), a social networking company also has a large short interest.
Pine River is not the only fund betting against Sony Corporation (NYSE:SNE) (TYO:6758)—Brazil based BTG Pactual has an even bigger short position in the electronics and entertainment company. BTG Pactual Europe has a short position in 7.8 million shares of Sony Corporation (NYSE:SNE) (TYO:6758).
UBS AG (NYSE:UBS) also holds a short in Sony Corporation (NYSE:SNE) (TYO:6758) amounting to 6.3 million shares of the Japanese company. Merrill Lynch International holds a 0.45 percent short in Sony which is equal to 4.5 million shares.
AQR Capital & Oxford Asset Management Double Down On Japanese Companies
AQR Capital is bearish on Sharp Corporation (OTCMKTS:SHCAY) (TYO:6753)—the fund holds approximately 6 million shares of the company short. Cliff Asness’ hedge fund holds a very large number of shorts in Japan, and the fund has bet against more than 50 companies in Tokyo. Another short seller which is largely bearish on Japanese small-mid caps is Oxford Asset Management. OAM’s OXAM Quant Fund holds more than 70 short positions in Japanese Companies, with exposure ranging from o.25 to 1.9 percent.
Jabre Capital, a Switzerland based hedge fund, has short positions in NIPRO CORPORATION (TYO:8086) and Sekisui House Ltd (OTCMKTS:SKHSY) (TYO:1928). AQR’s shorts range from electronics to construction companies. Notable shorts are in NIKON CORPORATION (TYO:7731). Both BTG Pactual and AQR Capital have shorts in Kakaku.com, Inc. (TYO:2371). AQR’s shorts in metals and mining include Kobe Steel, Ltd. (TYO:5406) (OTCMKTS:KBSTY), Hitachi Metals, Ltd. (TYO:5486), Pacific Metals Co., Ltd. (TYO:5541), Osaka Titanium Technologies Co.,Ltd. (TYO:5726) and TOKYO STEEL MANUFACTURING CO., LTD. (TYO:5423).
Gree, Inc. (TYO:3632), a Japanese online gaming and social networking company, has a pretty large short interest. While most of the short sellers of the company are banks, they hold large, significant positions. Morgan Stanley (NYSE:MS) has a 6.8 percent short in Gree Inc, Goldman Sachs International has a 2.8 percent short and UBS has a smaller short bet amounting to 0.28 percent of Gree’s outstanding shares.