TOKYO -- Brandes Investment Partners, once a major U.S. shareholder of Otsuka Kagu, has dumped its remaining stake in the troubled Japanese furniture seller.
The California-based fund said in a regulatory filing on Monday that it sold off its entire 6.41% ownership. Brandes owned more than 10% of the company in 2015. It supported President Kumiko Otsuka in a boardroom spat that ended with her father, founder Katsuhisa Otsuka, stepping down as chairman that year.
