Nissan Surges After Firm Linked to Hedge Fund Takes 2.5% Stake

Bloomberg11-12

(Bloomberg) -- Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker. Suntera (Cayman) Ltd., a trustee of ECM Master Fund...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNissan Surges After Firm Linked to Hedge Fund Takes 2.5% Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-12 17:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nissan-surges-firm-linked-hedge-090413077.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker.\nSuntera (Cayman) Ltd., a trustee of ECM Master Fund...</p>\n\n<a href=\"https://finance.yahoo.com/news/nissan-surges-firm-linked-hedge-090413077.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4099","symbol_name":"汽车制造商","start_time":0,"source_url":"https://finance.yahoo.com/news/nissan-surges-firm-linked-hedge-090413077.html","article_id":"2482742487","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/f_qFUBkowa1I.5v_bEgjkg--~B/aD0xMzMzO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/8088cc9c3064bf0722ac147ae6e72887"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482742487","pubTimestamp":1731402253,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker.Suntera  Ltd., a trustee of ECM Master Fund, was identified as the buyer of the stake in a filing by Nissan. ECM Master Fund was cited in past regulatory filings as being managed by Effissimo Capital Management Pte, a Singapore-based hedge fund that buys into distressed companies.Effissimo is best known for taking on Japan’s Toshiba Corp. in a landmark moment for corporate accountability in Japan. The conglomerate’s chief executive officer resigned in 2021 after the fund accused company of infringing on shareholders, and Toshiba accepted a buyout offer two years later.Nissan said last week that it now sees its operating income plunging to just 150 billion  in the fiscal year ending in March, down 70% from its previous forecast. The management also lowered its revenue outlook by more than 9%, mea","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","NSANF":"Nissan Motor Co., Ltd.","NSANY":"日产汽车"},"translate_title":"与对冲基金相关的公司持有2.5%股份后日产股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NSANF":0.9,"NSANY":0.9},"content_text":"(Bloomberg) -- Nissan Motor Co. shares jumped the most in 15 years after an activist investor took a 2.5% stake in the embattled Japanese automaker.\nSuntera (Cayman) Ltd., a trustee of ECM Master Fund, was identified as the buyer of the stake in a filing by Nissan. ECM Master Fund was cited in past regulatory filings as being managed by Effissimo Capital Management Pte, a Singapore-based hedge fund that buys into distressed companies.\nEffissimo is best known for taking on Japan’s Toshiba Corp. in a landmark moment for corporate accountability in Japan. The conglomerate’s chief executive officer resigned in 2021 after the fund accused company of infringing on shareholders, and Toshiba accepted a buyout offer two years later.\nThe activist investors’ involvement in Nissan fueled a rally in the carmaker’s shares amid speculation it may embark on structural reforms to fix its ailing business, said Ikuo Mitsui, a fund manager at Aizawa Securities Co. The stock had plunged since last week after the troubled carmaker announced plans to slash jobs and cut a fifth of its production capacity.\nNissan said in a statement that the company is “continuously engaging with institutional investors and analysts from securities companies,” while adding that it’s not in a position to identify whether the stake acquisition was indeed made by Effissimo.\nRepresentatives for Effissimo didn’t respond to an email seeking comment.\nEffissimo has held shares in another company called Nissan Shatai Co., which runs Nissan’s manufacturing operations, since at least 2007. The fund is Nissan Shatai’s second-largest shareholder, according to a September filing.\nEffissimo has also bought into UACJ Corp. and Sanken Electric Co., and owns stakes in companies including Dai-ichi Life Holdings Inc. and Fudo Tetra Corp.\nActivist campaigns aimed at shaking up a company’s operations and increasing shareholder value have become increasingly common in Japan over the past decade. Elliott Investment Management built sizable stakes in Sumitomo and SoftBank Group, while Oasis Capital earlier this year called for a governance overhaul at Japanese drugstore chain Ain Holdings Inc.\nEffissimo was founded by disciples of Yoshiaki Murakami, the father of activist investing in Japan. The fund became Toshiba’s top shareholder in 2017 when the company was reeling from a massive writedown on its nuclear power business. Toshiba later split into three separate companies as part of efforts to improve shareholder value.\nNissan’s shares climbed as much as 21% on Tuesday before closing up 13%. The company’s short interest stood at 21% of its free float as of Friday, making it the third-most shorted stock on the Nikkei 225 Stock Average, according to data from S&P Global.\nNissan said last week that it now sees its operating income plunging to just ¥150 billion ($976 million) in the fiscal year ending in March, down 70% from its previous forecast. The management also lowered its revenue outlook by more than 9%, meaning it now expects virtually no growth for the year.\nChief Executive Officer Makoto Uchida told investors that Nissan has been affected “not only by external challenges, but also by our specific issues,” alluding both to the breakneck rise of Chinese automakers and Nissan setting overly ambitious sales targets.\nNissan is now expecting to produce about 3.2 million vehicles in the year ending in March, almost 7% fewer than the last fiscal year. The company also lowered its retail sales outlook to 3.4 million vehicles, paring forecasts for each of its major markets: North America, China, Japan and Europe.\n--With assistance from Yasutaka Tamura.\n(Updates with details on Effissimo’s stake in Nissan Shatai.)\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"Shareholding Changes","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482742487"}