Hedge fund manager Seth Fischer has a powerful ally as he campaigns for Japanese companies to sell their stakes in each others¡¯ businesses: Prime Minister Shinzo Abe.
Not that it¡¯s made much difference. Kyocera Corp. still owns a $9 billion (?981 billion) slice of KDDI Corp., the phone company with which it shares a founder, despite Fischer pushing since at least 2015 for a sale. Electronics maker Kyocera offloaded a small part of the holding last year, but otherwise hasn¡¯t budged, and the investment makes up about 40 percent of its own market value.
¡°They absolutely do not have to own the stake,¡± Fischer, the chief investment officer of Hong Kong-based Oasis Management Co., said in a phone interview. ¡°We will continue to engage.¡±
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