Shareholder Activism in Japan



Instead of clients, we launch activist campaigns and execute shareholder rights after purchasing the appropriate number of shares.

The service is delivered by our partner, Nanahoshi Management Ltd., a shareholder activist in Japan.


Do you feel the below issues have been reducing alpha in your portfolio?

Inevitable reputational risks of hard engagement due to the instinctively hated Activism in Japan.

Difficulty in educating non-English-speaking management.

Limited resources for dedicated engagement focusing on shareholder activism.

Our Activist Campaign Outsourcing Service helps solve your issues.



A Client and Nanahoshi Management Ltd. ('NM') take a general discussion about desired actions to be taken by a company existing in the client’s portfolio (the 'Target Company').



NM purchases the appropriate number of shares of the Target Company from the market in Japan, funded by borrowing from the client.

What is Nanahoshi Management Ltd.?

It's an activist investment company in Japan owned/operated by Satoru Matsuhashi, as well as Nanahoshi Management UK Ltd.

Why NM purchases the shares?

To exercise the shareholder's rights if needed. Please leave it to NM to launch activist campaigns, including exercising the shareholder's rights; of course, NM simultaneously secures not to disclose the clients' names in public. See the below chart for more detail.



NM takes dialogues with the Target Company to encourage the Target Company to employ the desired actions and immediately starts activist campaigns in a very timely manner.



Should the campaigns successfully change the management policy and/or take action, clients can expect the shareholders' value of the Target Company increases.


Frequently Asked Questions list

What are clients supposed to do?

Please find the top right of the chart in STEP2. All Clients need to order activist campaigns and wait for the result of NM's campaigns.

Should clients want to change the order, NM is happy to take time anytime.

What is the edge of the service?

NM can provide additional alpha sourced by activism for a reasonable price, securing clients' names to avoid reputational risks.

Please find the below table comparing the type-wise activism alpha generation.

The serviceClients by themselvesVia investing in activist fundsCo-investment with activists
Clients' names in public (Reputational risks)No*
Access to clients’ existing portfolio companyYes*Yes*Yes or NoYes*
Degree of customizability of the campaignHigh*High*LowMedium
FeeNo*LowHigh to MediumLow

( * is the most appropriate for potential clients.)

Does NM have any track records in such a business?

Yes. Please let us know your interest so NM can provide sufficient evidence.

You can find the ongoing campaign of NM here.

How does NM charge for this service?

We promise not to charge for this service, but the client needs to lend us to invest in the Target Company.

This enables the client and us to go forward in the same direction.

Please be acknowledged that the no-charge service is temporary at the start of this business.


Nanahoshi Management UK Ltd.

Registered office at Flat 48, 50 Kensington Gardens Square, London

W2 4BA

Registered in England & Wales,

No 14605341

Satoru Matsuhashi, CFA, CESGA

Founder / CEO of Nanahoshi Management UK Ltd. & Nanahoshi Management Ltd.

  • 15 years of experience as an equity investment professional (shareholder activist, concentrated active fund manager and research analyst)
  • Masters in Finance at London Business School (Part-time)
  • Investment Management Diploma (ESG) from CFA UK
  • Sustainability and Climate Risk Certificate (SCR) from GARP
  • He likes to play the classical guitar and basketball

Please find the detailed bio on Linkedin


Nanahoshi Management Ltd. and Nanahoshi Management UK Ltd, each trading as Nanahoshi Management provide professional independent consulting services and all information used in the publication of our content has been compiled from publicly available sources that are believed to be reliable.

This content has been prepared purely for information purposes, and nothing contained within should be construed as an offer, or the solicitation of an offer, to buy or sell any security, product, service or investment. The content reflects the objective views of Satoru Matsuhashi and does not constitute investment advice.  The Nanahoshi Management group does not make recommendations.

The information provided in our content is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Nanahoshi Management or its affiliates to any registration requirement within such jurisdiction or country.

Each investor must make their own independent decisions and obtain their own independent advice regarding any information, projects, securities, or financial instruments mentioned herein. Each investor’s particular needs, investment objectives and financial situation were not taken into account in the preparation of our content and the material contained herein. Each investor should consider whether an investment strategy of the purchase or sale of any product or security is appropriate for them in the light of their investment needs, objectives and financial circumstances.

Our content may constitute a “financial promotion” for the purposes of section 21 Financial Services and Markets Act 2000 (United Kingdom) (“FSMA”) and accordingly, its distribution in the United Kingdom is restricted.

Neither Nanahoshi Management nor any other person authorised by the Financial Conduct Authority (United Kingdom) has approved or authorised the contents of this document for the purposes of section 21 FSMA. Accordingly, this document is only directed at:

  1. persons who have professional experience in matters relating to investments falling within Article 19(5) (Investment Professionals) or Article 49 (High Net Worth Companies, Unincorporated Associations etc.) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (as amended) (the “Order”);
  2. certified high net worth individuals within the meaning of Article 48 of the Order;
  3. certified sophisticated investors and self-certified sophisticated investors within the meaning of Article 50 and Article 50A of the Order;
  4. associations of high net worth investors or sophisticated investors within the meaning of Articles 51 of the Order; and
  5. any other person whom it may lawfully be communicated,

(collectively, the “Relevant Recipients”).

Our content is directed at only Relevant Recipients and must not, under any circumstances be acted on or relied on by persons who are not Relevant Recipients. Any investment or investment activity to which this communication relates is only available to Relevant Recipients and will be engaged in only with Relevant Recipients. The UK compensation scheme and rules for the protection of private customers do not apply to the services provided or products sold by non-UK regulated affiliates.

The receipt of our content by any person is not to be taken as constituting the giving of investment advice by Nanahoshi Management to any such person.

No part of our content may be reproduced, stored in a retrieval system or transmitted in any form or by any means, mechanical, photocopying, recording or otherwise, without prior permission from Nanahoshi Management.

By accepting our content, the recipient agrees to be bound by the limitations set out in this notice.
This notice shall be governed and construed in accordance with English law.