A job interview that went badly is on the heart of the most recent battle between a venerable Japanese firm and a international activist investor.
Beer maker Kirin Holdings Co. is in a face-off with London-based Unbiased Franchise Companions, which owns a 2% stake and needs Kirin to deal with alcoholic drinks whereas eliminating noncore companies comparable to a stake in a cosmetics firm. A shareholder vote on the divestment proposal is about for Friday.
Emboldened by modifications in company governance in Japan, international shareholders have had success not too long ago getting share buybacks and better dividends. SoftBank Group Corp. mentioned Monday it might purchase again as much as $18 billion in shares after strain from New York-based fund supervisor Elliott Administration Corp.