Activist investor Oasis buys 5% stake in scandal-hit Kobayashi Pharma

Hong Kong fund becomes 4th-largest shareholder in Japanese drugmaker

20240724N Kobayashi Pharma

Kobayashi Pharmaceutical is grappling with a scandal surrounding a red yeast supplement suspected of being linked to more than 80 deaths. (Photo by Koji Uema)

KENTA ANDO, Nikkei staff writer

OSAKA -- Hong Kong-based activist investor Oasis Management has built a 5.2% stake in troubled Japanese drugmaker Kobayashi Pharmaceutical, according to securities filings submitted Wednesday.

Oasis spent about 8.7 billion yen ($56 million) through Monday to acquire more than 4 million shares, according to a disclosure to the Kanto Local Finance Bureau, a regulator that includes Tokyo under its jurisdiction.

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