Misaki Capital and Sangetsu Corporation
Japan’s corporate culture has traditionally prioritized the interests of stakeholders such as employees and suppliers over those of shareholders. After a decades-long economic slump, Japan’s government has begun efforts to improve corporate governance and firms' incentives to engage with shareholders. Misaki Capital was founded in 2013 with a strategy of constructively engaging with portfolio firms, providing operational and financial advice to management in order to improve shareholder value. This case asks students to consider the attractiveness of Japanese equities given recent reforms and to evaluate the investment approach of Misaki Capital.
Keywords: activist investing; constructivist investing; Japan; corporate governance; valuation; stock screens; return on equity; Investment; Business and Stakeholder Relations; Corporate Governance; Financial Strategy; Business and Shareholder Relations; Japan;
Citation:
Gow, Ian, Charles C.Y. Wang, Naoko Jinjo, and Nobuo Sato. "Misaki Capital and Sangetsu Corporation." Harvard Business School Case 117-007, October 2016. (Revised October 2017.) View Details
