Author Archives: Alina Peon
Dalton Chief Investment Officer Interviewed by Nikkei Business on Why Poison Pills Do Not Work
Dalton CIO, James B. Rosenwald III, recently interviewed with Nikkei Business, discussing recent announcements by Aska Pharmaceutical and Bunka Shutter to potentially implement a poison pill in order to block shareholder efforts to have each company consider going private. The …
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Dalton Responds to Aska’s Threat of a Poison Pill
On September 30th, 2025, Dalton Investments (“Dalton”) sent a letter to Aska Pharmaceutical addressing its objections to considering a management buyout and the threat that it would enact a poison pill if Dalton increased its ownership level to 30%. Excerpts …
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Dalton Investments Highlighted in “Diligent Market Intelligence: Shareholder Activism in Asia 2025 Report”
In their report “Diligent Market Intelligence: Shareholder Activism in Asia 2025”, Diligent highlights Dalton as one of “Asia’s top activist investors”. When the activity of Dalton Investments and its affiliate company Rising Sun Management (through the closed end fund Nippon …
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Dalton Sends Letter to Aska Pharmaceuticals Holdings and Bunka Shutter Criticizing their Potential Use of Poison Pills
Dalton Investments, a major shareholder of Aska Pharmaceuticals and Bunka Shutter, has sent a letter to both companies criticizing their adoption of a “Response Policy on Large-Scale Purchase of Shares”. The letter outlines four key points of Dalton’s position. Read …
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Dalton Blasts Japan’s Aska Pharma, Bunka Shutter for Takeover Defenses
Dalton Investments’ response to the anti-takeover measures adopted by Aska Pharma and Bunka Shutter—two companies in which it is a major shareholder—was recently featured in Nikkei Asia. Read the article here.
Japan’s Upper House Election Update
Shiro Hayashi, Director of Research and Head of Dalton’s Tokyo research office, discusses the recent House of Councillors (Upper House) election in Japan, where the Liberal Democratic Party (LDP) and its coalition partner Komeito suffered a second consecutive defeat. Read …
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Implementation of Fuji Media Holdings’ Reform Action Plan and Introduction of Takeover Defense Measures Against the Murakami Fund
Rising Sun Management, an affiliate of Dalton, has sent a letter to Fuji Media Holdings regarding the implementation of a reform action plan and the introduction of takeover defense measures against the Murakami Fund. Read the letter here. This document …
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Request for Consideration of Timing of AGMs & Early Reporting
Dalton Investments has sent a letter to the boards of directors of its portfolio companies, requesting consideration of early disclosure of securities reports and the “de-concentration” of annual general meetings dates. We have long held the view that the information …
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A Response to ASKA’s New Policy for “Large Scale Purchase Actions”
Dalton Investments’ affiliate, Rising Sun Management Ltd. (“RSM”), has sent a letter to the Board of Directors of ASKA Pharmaceutical Holdings Co., LTD (“ASKA”) to share its concerns about the company’s recently-adopted “Policy for Responding to Large-Scale Purchase Actions” and …
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Dalton CIO Jamie Rosenwald appears on Investor’s Sunday Podcast
Dalton CIO Jamie Rosenwald recently appeared on Investor’s Sunday, which is a regular show on Tokyo’s InterFM. The show is co-hosted by Yuko Ezure and Dalton’s own Masumi Nishida, Partner and Managing Director for Dalton’s Tokyo research office. The show …
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