PSA Activism in Japan – Keisei Railway (9009 JT) Revives the Affiliate Shareholding Debate
Shareholder activism in Japan just took a turn for the worst, with management at Keisei being asked to make a dubious investment decision under the guise of improving returns to shareholders.Keisei Electric Railway is mainly engaged in the transportation business mainly in the Tokyo Metropolitan Area and Chiba Prefecture. Along with its affiliates, Co.'s principal business divisions are transportation, distribution, real estate, leisure and services, construction, and others. Co. is engaged in the transportation business, such as railway, bus and taxi; the operation of grocery stores, department stores, shopping malls, entertainment parks, movie theaters, hotels and restaurants; the sale and lease of real estate; the advertising, travel, insurance agency, civil engineering and solar power generation business; and the provision of maintenance services of railroad vehicle.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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