In 2024, the number of activist campaigns rose to 258, driven by the rise in Asia-Pacific campaigns. In particular, Japan activist campaigns are at an all-time high, fueled by the push for corporate governance reform. Dalton Investments was called out specifically for its shareholder activism campaign with Ezaki Glico, encouraging the company to amend its articles of corporation to allow shareholder returns to be decided by investors. Dalton also sent a letter to Fuji Media Holdings, calling for a spin off its real estate business and to replace its board of directors. South Korea has also seen an increase activist activity, with 14 campaigns taking place last year. Read more about how activist investors are speaking up in Asia (subscription required.
