Secretive Hedge Fund Ends Long Silence to Take On Japan Icon

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• Benes Nicholas

  公益社団法人会社役員育成機構 (BDTI) 代表理事 (Representative Director)

  ・2021年05月25日

  "Even though Toshiba’s board opposed the motion, a majority of shareholders voted for Effissimo’s proposal. For decades, shareholders in Japan had almost unfailingly sided with management. It was an “eminently reasonable” proposal, said Nicholas Benes, an expert on Japanese corporate governance. “All Toshiba had to do was agree to an independent investigation,” he said. “But for some reason, they refused.” The action may come to define Effissimo. With the Toshiba case the hedge fund finds itself on the right side of a major issue, at least judging by investor support. By stepping out of the shadows after almost 15 years, Kousaka and Imai may have finally developed their own identity."