Nissan shares jump 21% after activist Effissimo takes stake

Japanese automaker's stock rebounds after recent plan to cut 9,000 jobs

20241112N Nissan photo

Nissan Motor cars are parked at the company's factory in Yokosuka, south of Tokyo. © Reuters

TOKYO (Reuters) -- Nissan Motor shares jumped as much as almost 21% on Tuesday after a filing showed activist investor Effissimo Capital Management had taken a stake in the struggling Japanese automaker.

In a regulatory filing on Monday, Nissan disclosed Cayman Islands-registered ECM Master Fund as a shareholder with a 2.5% stake as of end-September. ECM Master Fund is affiliated with Effissimo, according to Securities and Exchange Commission filings.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.