UK fund Asset Value Investors launches campaign against Japan's Wacom

Wacom Co

07/05/2025 10:16

By Anton Bridge

TOKYO, May 7 (Reuters) - London-based investment fund Asset Value Investors has asked Japanese graphic tablet maker Wacom 6727.T to improve its corporate governance and proposed an external director with capital markets experience, it said on Wednesday.

Japanese companies have faced campaigns from investors anticipating higher shareholder returns once long-awaited corporate governance changes are implemented.

Wacom's branded products business has recorded losses over multiple years and its board lacks a representative with capital markets experience that could better protect shareholder interests, Kaz Sakai, the investment fund's head of Japan research said in an interview.

Asset Value Investors first invested in Wacom in 2021, and holds 10% of total voting rights, it said, making it the company's largest shareholder.

It considers itself an "engagement investor", pressing for dialogue with management and board members, rather than taking on a more activist role.

"We believe these measures will contribute to sustainably protecting the common interests of shareholders," Sakai said.

Last month, it launched a campaign against Japanese pharmaceuticals company Rohto 4527.T to encourage it to focus on its core businesses and engage with shareholders more frequently.

 (Reporting by Anton Bridge and Miho Uranaka; Editing by Rachna Uppal)

 ((Anton.Bridge@thomsonreuters.com;))