Toshiba sees Mizuho join BlackRock in building 5pct stake

06-Mar-2021 Intellasia | Reuters | 6:49 AM Print This Post

Japan’s Mizuho Financial Group Inc has built a 5.07 percent stake in Toshiba Corpa move which comes after the after the Japanese industrial conglomerate returned to the Tokyo Stock Exchange’s top section.

Mizuho’s banking unit, securities unit and asset management arms own 1.24%, 1.7 percent and 2.13 percent respectively, a filing from the finance ministry showed.

The news comes after BlackRock Inc said on Thursday that it had built a 5.21 percent stake in Toshiba. That made the US asset manager Toshiba’s third-largest shareholder behind hedge funds Effissimo Capital Management and Farallon Capital Management, a source familiar with the matter said.

Toshiba, which is embroiled in a long-running row with activist shareholders including Singapore-based Effissimo, has said the return to the TSE’s first section would lure buying from investors in stock indexes. Toshiba rejoined Japan’s Topix index of top tier shares on February 25.

https://www.reuters.com/article/us-toshiba-shareholders/toshiba-sees-mizuho-join-blackrock-in-building-5-stake-idUSKBN2AX084

 

Category: Japan

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