"Elliott Management's Call for Mitsui Fudosan Share Buyback Sends Shares Soaring"
Mitsui Fudosan's shares reached a record high after reports of U.S. activist investment firm Elliott Management urging the company to initiate a $6.74 billion stock buyback program and sell down its $3.6 billion stake in Oriental Land, the operator of Tokyo Disneyland. The pressure from Elliott signals a shift in corporate Japan's approach to balance sheets, with experts debating whether the proceeds should be used for share buybacks or future growth projects. As a result, Mitsui Fudosan's shares surged while Oriental Land's shares fell 2.2%.