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Activist bid to rewire Sony can help make Japan Inc. great again

Loeb's plans add weight to a much-needed push to assert shareholder rights

| Japan
Sony has been teasing with hints of another Walkman moment.    © Reuters

Few foreigners raise more hackles at Sony headquarters than American hedge fund manager Daniel Loeb.

Six years ago, the activist Third Point investor demanded that then-CEO Kazuo Hirai sell Sony's movie studio to focus on hardware and innovation. Hirai balked, and Loeb sold his Sony stake within 18 months. "Champagne for all!" wrote the then-finance chief of Sony Pictures in a leaked 2014 email.

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