Morningstar

Daikin Industries Shares Surge After Elliott Builds Stake

Provided by Dow Jones

By Kosaku Narioka 




  Daikin Industries' shares surged after Elliott Investment Management said it has built a stake, calling on the Japanese maker of air conditioners to take steps to boost margins and review operations that aren't critical to its main businesses. 



  Shares were recently 11% higher at 22,480 yen, equivalent to $141.40, on Thursday in Tokyo after rising as much as 14% earlier. 



  The U.S. activist investor said Thursday that it had built a significant investment in Daikin and that the company's market-leading businesses and track record of long-term growth are undervalued by the market. 



  Elliott said Daikin could take measures to expand margins, review noncore businesses and improve shareholder returns. 



  The activist investor's investment in Daikin comes after its recent stake acquisition in Mitsui O.S.K. Lines. Elliott said in March that it had built a significant stake in the Japanese shipping giant, saying the company is materially undervalued despite its strength in shipping and its standing as a major owner of oceangoing vessels. 



  Activist investors, once shunned by Japanese management, have been gaining more mainstream recognition over the years as the government has pressed companies to communicate better with investors and improve capital efficiency. 





  Write to Kosaku Narioka at kosaku.narioka@wsj.com 





  (END) Dow Jones Newswires



  April 15, 2026 21:59 ET (01:59 GMT)


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