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...In the past, Elliott’s team in Tokyo had focused on real estate investments, while its activist campaigns targeting Japanese companies such as SoftBank and Hitachi were mainly operated out of London....
The Japanese chemical company’s US expansion is timely
...Hitachi has been shedding listed subsidiaries, selling Hitachi Metals to US investment fund Bain Capital and others a year ago....
...Hitachi said no formal decision on the sale has been made. Hitachi Metals declined to comment....
...The deal is part of a long-term effort by Hitachi to either buy in or sell off listed subsidiaries to smooth out issues of corporate governance. In 2008, Hitachi had 22 listed subsidiaries....
...“Pure play refining can be pretty rough,” said Matthew Blair, head of refining research at investment bank Tudor, Pickering, Holt & Co. “It's going to be more volatile....
...“Continued portfolio optimisation is vital,” Cevian co-founder Christer Gardell told the FT....
...GE Hitachi Nuclear Energy is a global nuclear venture between Japan’s Hitachi and General Electric of the US....
...Earlier this year, KKR co-founder George Roberts described Japan as his company’s highest priority market outside the US, citing Hitachi and the influence of Mr Nakanishi as the reason....
...A broader shift in Japan has been marked by large conglomerates such as Toshiba, Panasonic, Hitachi and Fujitsu coming under pressure to buy in or sell off their listed subsidiaries....
...Hitachi Chemical is similarly cheap. If the reports are true, Hitachi Chemical’s recurrent apologies are worrisome....
...Shares in Hitachi Chemical were down 8.3 per cent after falling 14.6 per cent earlier in the morning....
...Last year Cevian co-founder Lars Forberg joined the ABB board. Proceeds from a deal would allow Mr Spiesshofer to invest in fast growth digital industries....
...Lars Förberg, Cevian’s co-founder, said the deal was “the right way forward for ABB, and we fully support the strategic direction of the board and management”....
...Monday’s admission by Hitachi Chemical that it “had carried out improper inspections for some products” came only four months after the Hitachi Ltd subsidiary said it had also falsified data for industrial...
...Products from Hitachi Chemical had also passed Toshiba’s own quality inspections....
...With $2bn of backing from state-backed INCJ, Japan Display was created seven years ago by merging the display units of Sony, Toshiba and Hitachi....
...Last year Cevian co-founder Lars Forberg joined the ABB board....
...“We support the strategic direction of ABB, and have full confidence in Peter Voser and the management team to continue implementing the transformation of ABB,” said Cevian co-founder Lars Forberg....
...director and kept separate from company chairman, a position now set to remain empty — a role split that breaks with global protocol but aligns Nissan with the practice of other Japanese groups including Hitachi...
...The company has an “ownership relation” with Ganzhou Rare Earth Mineral Industry Co, a loose grouping of dozens of local miners in Jiangxi province....
...Siemens has signed a memorandum of understanding on technology co-operation in large gas turbines with China’s State Power Investment Corporation....
...Hitachi bought out minorities in Hitachi Plant Technologies and sold stock in Hitachi Kokusai. Nippon Steel sold shares in Sumco and bought out Nisshin Steel....
...This year it has been losing ground to Mitsubishi Hitachi Power Systems of Japan....
...That has resulted in some of Japan’s most famous companies, including Nintendo Toshiba, Hitachi and Sony being targeted in recent years....
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