NEW YORK -- U.S. activist investor Daniel Loeb, CEO of hedge fund Third Point, expressed frustration with Sony's management Thursday for rejecting a proposal to spin off its cash-cow image sensor business to unlock value for shareholders.
"As students and practitioners of Japanese business principles like kaizen, it is difficult for us to imagine that a company of Sony's size and complexity could not find a single concrete action to improve its business and valuation," Loeb wrote in his third-quarter letter to Third Point investors.
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