Shares of Nippon Express Holdings surged sharply on Tuesday after U.S. activist investor Elliott Investment Management disclosed a new stake in the Japanese logistics company, triggering strong market reaction in Tokyo trading.
According to a regulatory filing, Elliott has accumulated a 5.04% holding in Nippon Express, marking its latest move in a growing wave of investments across Japanese corporations. The disclosure pushed the stock up by as much as 15–18% during intraday trading before it partially settled.
Market data showed the shares later trading around 8–12% higher, reflecting sustained investor optimism following the announcement.
The surge comes amid broader foreign investor interest in Japan’s corporate sector, with Elliott increasingly targeting undervalued companies and advocating for improved shareholder returns and asset restructuring.
While the hedge fund has not publicly detailed its intentions regarding Nippon Express, its recent strategy in Japan has typically involved pressure on companies to enhance capital efficiency, boost buybacks, and reassess non-core assets.
The move adds to Elliott’s expanding footprint in Japan, where it has also taken positions in several major listed firms in recent months.