Ishii Iron Works Co. Ltd (6362 JP, 石井鐵工所, “Ishii“) is an undervalued Japan-listed steel products manufacturer, which also owns much real estate in Japan.

Vasanta Master Fund (Vasanta), an “engagement” fund managed by TIH Investment Management, built a 5% stake in Ishii in 2021. We, the Argyle Street Management group, have a strategic partnership with TIH.

Vasanta has been advocating for improved corporate governance, optimization of real estate assets, and higher degree of transparency. Vasanta was tenacious: it submitted shareholder proposals at the annual general meetings of Ishii, for three years in a row.

In August 2024, the founding family of Ishii launched a management buyout offer at ¥8,364/share, representing a 185% premium over pre-announcement share price (¥2,933/share).

Well done.

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株式会社石井鐵工所(6362 JP, “石井鐵工所”)是一家于日本上市且价值被低估的钢铁制品制造商,其在日本还拥有大量房地产资产。

Vasanta Master Fund(“Vasanta”)是由新加坡TIH Investment Management(“TIH”)管理的一只“积极参与”基金,其于2021年收购了石井鐵工所5%的股权。我们Argyle Street Management集団是TIH的战略合作伙伴

Vasanta一直在倡导石井鐵工所改善企业治理、优化房地产资产和提高透明度,连续三年在石井鐵工所的年度股东大会上提交了股东提案

终于,2024年8月,石井鐵工所的创始家族发起管理层收购要约,每股收购价8364日元,较前一日(8月7日)收盘价2,933日元溢价185%。

干得漂亮!

欢迎随时与我们联系:

💬 微信: ASM_Argyle

💬 WhatsApp: +852 6317 6371

🖥️ UnlockValueChinaMerchants.com

📧 ChinaMerchants@asmhk.com

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