Levels of activism in Japan are just shy of last year’s record numbers as of June 18, according to data from Activist Insight Online, driven mostly by outside investors for the first time in at least six years.
So far in 2018, 19 companies have been publicly subjected to activist demands, over half (11) of them by non-Japanese shareholders. By June 18 last year, only seven companies had been publicly subjected to demands by foreign investors.
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Number of Japan-headquartered companies publicly subjected to activist demands by activist HQ location, in the period January 1 - June 18 of each year.
Since 2013, exactly 50% of Japan-headquartered companies have been publicly subjected to activist demands by domestic activists only, with 46% receiving demands from foreign investors and 4% from both.
This year, the number of board-related demands has already matched last year's record high of 15 and the number of public demands made this year as of June 18 has increased to 45, compared to 41 in the same period last year.
Activist demands by demand group at Japan-headquartered companies, in the period January 1 - June 18 of each year.
However, the number of Japanese companies where shareholders have requested board representation is still small by international standards, with just six facing such demands year-to-date.
Please note that all data referenced is as of 2013. For any questions about the data, or if you have a follow-up request, please contact Josh Black at [email protected] Please note that bespoke data requests may take 24-48 hours depending on the amount of manual work required.
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About Activist Insight
Since 2012, Activist Insight (www.activistinsight.com) has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Regularly quoted in the financial press, Activist Insight is the trusted source for data in this evolving space. Activist Insight offers five industry-leading products: Activist Insight Online, Activist Insight Shorts, Activist Insight Governance, Activist Insight Vulnerability – a tool for identifying potential activist targets – and Activist Insight Monthly – the world's only magazine dedicated to activist investing.