UK fund Asset Value Investors launches campaign against Japan's Wacom
TOKYO, May 7 (Reuters) - London-based investment fund Asset Value Investors has asked Japanese graphic tablet maker Wacom (6727.T), opens new tab to improve its corporate governance and proposed an external director with capital markets experience, it said on Wednesday.
Japanese companies have faced campaigns from investors anticipating higher shareholder returns once long-awaited corporate governance changes are implemented.
here.
Wacom's branded products business has recorded losses over multiple years and its board lacks a representative with capital markets experience that could better protect shareholder interests, Kaz Sakai, the investment fund's head of Japan research said in an interview.
Asset Value Investors first invested in Wacom in 2021, and holds 10% of total voting rights, it said, making it the company's largest shareholder.
It considers itself an "engagement investor", pressing for dialogue with management and board members, rather than taking on a more activist role.
"We believe these measures will contribute to sustainably protecting the common interests of shareholders," Sakai said.
Last month, it launched a campaign against Japanese pharmaceuticals company Rohto (4527.T), opens new tab to encourage it to focus on its core businesses and engage with shareholders more frequently.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
an hour ago
- Daily Mail
Inside Trump's call with China's Xi amid trade uncertainty
President Donald Trump confirmed Thursday that he had spoken by phone with Chinese President Xi Jinping amid trade uncertainty. China 's state-run news agency Xinhua was first to report the talks, saying the talks came at Trump's request. Trump posted to Truth Social mid-morning Thursday saying he had a 'very good phone call' with Xi. 'The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries,' the U.S. president said. 'There should no longer be any questions respecting the complexity of Rare Earth products,' he added. In April, China had suspended exporting a wide range of critical minerals and magnets needed by automakers, military contractors and computer chip manufacturers globally. The move was meant to squeeze Trump on trade. Trump said the American and Chinese teams will be meeting shortly. 'We will be represented by Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer,' Trump said. Trump acknowledged that the 'conversation was focused almost entirely on TRADE.' 'Nothing was discussed concerning Russia/Ukraine, or Iran,' he said. China's state-run broadcaster CCTV's reporting suggested that Trump and Xi had also discussed student visas. The president said he would alert the media soon about the timing and location of the U.S.-China meeting. 'Thank you for your attention to this matter!' Trump said, signing off. Trump's tone in the post was much different than when he vented his frustrations about Xi in the early hours of Wednesday. 'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' Trump posted to Truth Social at 2:17 a.m. In mid-May, the U.S. and China paused the escalating trade war for 90 days, with the U.S. reducing tariffs on Chinese imports from 145 percent to 30 percent. In turn, Beijing reduced tariffs on U.S. imports from 125 percent to 10 percent. Since then, both sides have accused the other of violating those terms. Trump has also taken offense to his trade policies being labeled with the acronym TACO: 'Trump always chickens out.' The Financial Times' Robert Armstrong came up with the term to describe how the president has made bold tariff threats - rattling financial markets - only to pull back, implementing broad pauses as the U.S. tries to ink individual trade deals. That was the case with China, with the trade war currently on a 90-day pause. Trump participated in a state visit to Beijing in November 2017, less than a year into his first term. His relationship with Xi soured during the final year of his first term due to China's role in the COVID-19 pandemic.
The Independent
an hour ago
- The Independent
What to know about the much-anticipated Nintendo Switch 2 on launch day
The Nintendo Switch 2 finally hit store shelves on Thursday, eight years after the initial release of Japanese video-game maker Nintendo's popular video game console. Even with a hefty $450 price tag, fans around the world, from Japan to the U.S., lined up outside stores to pick up pre-orders or have a chance to buy the device. The release ends months of anticipation that included pre-order hiccups and fears that tariffs would delay the release of the Switch 2. Here's what to know about the release and where you can buy it. What is the Nintendo Switch? The Nintendo Switch 's unique ability to switch from a handheld console to a traditional one helped make it a hit when it launched in 2017. The Nintendo Switch Lite, which was a handheld-only device released two years later, also became popular, especially during the pandemic. It helped usher in bestselling Nintendo games including 'The Legend of Zelda: Breath of the Wild,' 'Mario Kart 8 Deluxe' and 'Animal Crossing: New Horizons.' The Nintendo Switch 2 adds interactive chat and screenshare functions to connect gamers. It will also have a more vibrant display and a larger screen. Nintendo has sold a total of 152 million Switches, just behind its best-selling Nintendo DS console which saw 154 million units move, according to the company. But demand has dwindled for the Switch, now in its eighth year after its debut. Nintendo hopes the new console will boost its declining sales. How much is it and where do I buy it? The base Switch 2 costs $450 and a bundle with the new 'Mario Kart World' included costs $500. It can be found online and in-store at major retailers like Walmart, Target and Best Buy, as well as specialty retailers such as GameStop, but it is expected to be snapped up fast and widespread shortages are expected. What were the hiccups in the rollout? The on-again, off-again tariffs ordered by President Trump — which included goods from Japan — sparked fears Nintendo might have to delay the device. But the launch comes within the 90-day pause on most tariffs. U.S. preorders for the Switch 2 were delayed for several weeks so the company could assess the potential impact of tariffs. When they started in April, high demand sparked a chaotic pre-order process. Scores of consumers trying to pre-order ran into delays or errors. Shoppers took to social media to share long wait times and screenshots of error messages and carts that suddenly went empty. Nintendo acknowledged the 'very high demand' at the time and said it was working hard to fulfill orders, but also urged people to try to buy the device without a pre-order on June 5. What are Nintendo's expectations for the device? Nintendo said it expects to sell 15 million Switch 2 consoles for the fiscal year through March 2026. The company is hoping the device jump-starts its sagging sales. In May Nintendo reported a 43% decline in profit for the fiscal year through March but promised a turnaround.
Sky News
2 hours ago
- Sky News
Trump and China's Xi have 'very good' phone call and agree to more talks amid trade war
Donald Trump and Xi Jinping have held a "very good" phone call amid their ongoing trade war, during which they agreed to more tariff talks. Trade negotiations between the United States and China stalled shortly after a 12 May agreement between the two countries to reduce their tariff rates while talks took place. The call was first reported by Chinese state media and confirmed by the Chinese foreign ministry. According to Chinese state media, Mr Trump initiated the call with the Chinese president. In a post on his Truth Social site the US president said: "I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal." He said the call lasted around an hour and a half and "resulted in a very positive conclusion for both countries". There "should no longer be any questions" on rare earth products, he said. "The conversation was focused almost entirely on TRADE. Nothing was discussed concerning Russia/Ukraine, or Iran," Mr Trump added. He said the two nations had agreed to more tariff talks, and both leaders invited each other to visit their respective countries. According to Chinese state media, Mr Xi "pointed out that it is especially important to correct the course of the big ship of China-US relations, which requires us to keep the rudder and set the direction, especially to remove all kinds of interference and even sabotage". Mr Xi "emphasised that the US should handle the Taiwan issue carefully to avoid the two countries being dragged "into a dangerous situation of conflict and confrontation". According to the readout of the call, Mr Trump "expressed great respect for President Xi Jinping and the importance of the US-China relationship". It came a day after Mr Trump declared it was difficult to reach a deal with his Chinese counterpart. "I like President Xi of China, always have, and always will, but he is very tough, and extremely hard to make a deal with!!!," Mr Trump said in a post on his Truth Social site. The US president has cut his 145% tariffs on Chinese goods to 30% for 90 days to allow for talks, while China reduced its taxes on US goods from 125% to 10%. The trade war has produced sharp swings in global markets and threatens to damage trade between the two nations. Mr Trump's treasury secretary Scott Bessent had suggested only a conversation between the two leaders could resolve their differences in order for talks to begin in earnest. Mr Trump and Mr Xi last spoke in January, three days before his inauguration, where they discussed trade, as well as Mr Trump's demand for China to do more to stop the drug fentanyl from entering the US.
