November 28, 2018
Jamie Rosenwald, one of Dalton Investments’ founders, was quoted in a Bloomberg article on Nissan Motor’s ousting of former Chairman Carlos Ghosn. Rosenwald, who has invested in Japan shares since 1972 and campaigned for the country’s firms to better treat investors, says Ghosn’s arrest and removal amount to a “palace coup” by Nissan, and that shareholders are being ignored.
Rosenwald believes that Ghosn’s firing is tied to an attempted merger between Nissan and Renault, the company’s largest shareholder. These moves are being carried out without regard for investors as “shareholders of Nissan were saved by Ghosn’s actions in 1999-2000,” he said. “And they are now being ignored in the fight.”
Calling for the French government to intervene, Rosenwald said “I am sure that Japan Inc. would like Nissan to buy out Renault so they can go their separate ways. But really isn’t it the duty of the President of France, or at least the Finance Minister to stand up for shareholders?”
For the full article, Please see here.
Dalton Investments LLC is a value-focused investment management firm with expertise in Asia equities, global equities and fixed income. Headquartered in Los Angeles, with a subsidiary office in Tokyo, Dalton manages $4.0 billion (September 30, 2018) in actively managed long-only and long/short strategies for pensions, endowments, foundations, financial institutions and family offices.