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TCI turns up the heat on J-Power
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27 May 2008
The Children's Investment Fund Management has bought stakes of less than 5% in Mizuho, Japan's secondbiggest bank, and Kajima, the nation's biggest general contractor, in the past couple
of months, its Asia division chief, John Ho, said.
TCI told Mizuho and Kajima that, as a shareholder, it expected them to pay attention
to raising corporate value.
"We hold every company accountable for their
investment returns and if J-Power does well, they will do well," Ho told Bloomberg.
"We will seek to have them invest and vote on the
investment holdings appropriately to maximise the
value of their investment."
TCI was blocked from doubling its 9.9% stake in
J-Power earlier this month. It wants greater transparency at the utility and aims to force
the board to double dividends.
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