financetom
Business
financetom
/
Business
/
Nissan shares surge after report activist investor Oasis has stake
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nissan shares surge after report activist investor Oasis has stake
Nov 15, 2024 12:09 PM

TOKYO (Reuters) -Nissan Motor shares jumped as much as 6% in early Tokyo trading on Friday after Japan's Diamond Online magazine reported that activist investor Oasis Management had taken a stake in the automaker.

Nissan's shares had also jumped on Tuesday after a filing showed an entity related to activist Effissimo Capital Management had taken a stake in the company.

Diamond magazine cited an unnamed person as saying Oasis had taken a stake in Nissan before Effissimo. The size of the stake and when the shares were bought were not clear, the report said.

An Oasis representative declined to comment on the report.

Shareholder activism has gained traction in Japan, where international and domestic investors are demanding firms to improve corporate governance and capital allocation at a record pace, also helped by regulators' guidance.

Nissan last week issued a profit warning and said it would slash 9,000 jobs and a fifth of its global manufacturing capacity amid a sales slump in its two biggest markets, China and the United States.

Its shares were last up 4% at 426.7 yen ($2.73), compared with a 1.2% advance on the benchmark Nikkei index. The stock is down 35% from its high this year.

($1 = 156.5400 yen)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil Stocks Get the 'Buy It' Treatment from Josh Brown on Thecompoundnews.com
Oil Stocks Get the 'Buy It' Treatment from Josh Brown on Thecompoundnews.com
Apr 3, 2024
08:00 AM EDT, 04/03/2024 (MT Newswires) -- Josh Brown of thecompoundnews.com was bullish on oil and gas stocks on Tuesday's podcast. Brown likes ConocoPhillips ( COP ) . Brown thinks COP is going to challenge the late 2022 high, and says she's going to punch through. He says it's going to $150. On Phillips 66 (PSX), Brown says, Buy it!....
Lightspeed to cut 280 jobs as it looks to turn profitable
Lightspeed to cut 280 jobs as it looks to turn profitable
Apr 3, 2024
April 3 (Reuters) - Canadian payments firm Lightspeed Commerce ( LSPD ) will cut about 280 jobs as part of a larger reorganization and cost-reduction plan, it said on Wednesday. Job cuts have been casting a shadow over major sectors in early 2024, as a high interest rate environment and shaky economy have taken their toll. Lightspeed's move will help...
'Are You New to Earth', What Will Trump Do With DJT Shares; Thecompoundnews.com Goes There
'Are You New to Earth', What Will Trump Do With DJT Shares; Thecompoundnews.com Goes There
Apr 3, 2024
08:03 AM EDT, 04/03/2024 (MT Newswires) -- On the latest opening of trading in shares of Trump Media & Technology Group ( DJT ) . The question for thecompoundnews.com podcast Tuesday night was, Will (Donald) Trump sell some of his stock to finance his campaign. Josh Brown says, What are you new to earth? No one is going to take...
Blackstone to invest $2 bln a year in India
Blackstone to invest $2 bln a year in India
Apr 3, 2024
MUMBAI, April 3 (Reuters) - Blackstone will invest at least $2 billion a year in India for the next five years, a top company executive said, citing the country's fast-growing economy and booming capital markets. The U.S investment firm counts India among its top markets, and its third biggest by equity investments with a current holding of $30 billion. It...
Copyright 2023-2026 - www.financetom.com All Rights Reserved