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Japan should encourage activist investors, not tie them in red tape

Third Point's Daniel Loeb has criticized new limits on foreign investment

| Japan
Loeb is trying to look on the bright side.    © Reuters

Hedge fund provocateur Daniel Loeb is feeling underappreciated by Japan's government. And, frankly, the CEO of New York-based Third Point has a valid gripe.

Since 2012, Prime Minister Shinzo Abe has been courting activist investors. Unlike many of his peers, Loeb took seriously Abe's "Japan is back" mantra and his moves to tighten corporate governance and give shareholders a greater voice in boardroom decisions. But events since October have shaken confidence that Japan Inc is interested in real reforms.

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