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American activist investor targets Japan Inc.

Elliott Management ups stake in Hitachi unit in apparent 'bumpitrage'

Paul Singer's Elliott Management zeroes in on Hitachi Kokusai.   © Reuters

TOKYO -- A well-known U.S. activist investor has raised its stake in a Hitachi unit up for sale, a potential sign that the fund sees the Japanese stock market as ripe for the picking.

Elliott Management, famous for pushing its agenda as an investor to big-name companies around the world, disclosed in a report to the Japanese Finance Ministry Monday that it has obtained more than 5% of Hitachi Kokusai Electric.

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