ValueAct Capital builds 8.7% stake in security software provider Trend Micro (updated)

JSR

09/08/2022 02:27

(Adds share price, details)
    TOKYO, Aug 9 (Reuters) - Activist investor ValueAct Capital
Partners said on Tuesday it has built an 8.7% stake in
cybersecurity software provider Trend Micro Inc  4704.T ,
driving shares of the Tokyo-listed firm sharply higher. 
    Shares of Trend Micro, which has a market value of over $8
billion, jumped more than 7% on Tuesday morning after the news.
    ValueAct is among a small number of U.S. firms that have
invested heavily in Japanese companies and have tried to work
with management and the boards to make some changes.
    Its holding in Trend Micro follows investments in Olympus
Corp  7733.T , Nintendo Co  7974.T , chip-related materials
maker JSR Corp  4185.T  and 7-Eleven's owner Seven & i Holdings
 3382.T .
    ValueAct said in a statement that it believes Trend Micro
could join other successfully transformed software companies as
its transformation into a cloud-based cybersecurity platform has
just started.
 ($1 = 134.8400 yen)

 (Reporting by Makiko Yamazaki; Editing by Christopher Cushing
and Himani Sarkar)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))