TOKYO -- 3D Investment Partners, a Singapore-based investment fund, wants more management reform by Japanese brewer Sapporo Holdings, one of its investment targets, Nikkei has learned. The company's five outside directors are being asked to lead efforts to improve Sapporo's profit margins and asset efficiency, which are significantly lower than those of its peers.
The fund sent a letter to the five dated Nov. 3. It requested that they meet with major institutional investors to understand their issues and requests. Sapporo plans to announce its new medium-term management plan when it releases financial results for the January-September period of 2022 on Nov. 9. But the letter also asked that the announcement be postponed to allow for shareholder input.