6367 News & Analysis

Daikin (6367) shares jump 14% after Elliott's investment push

Daikin Industries (6367) shares surged by 13.9% on Thursday, later stabilizing at an 11% gain, following activist investor Elliott Investment Management's announcement to partner with the company for performance improvements. Elliott has reportedly acquired a 3% stake yet did not disclose the investment size. The company's share price has shown little change year-to-date, in contrast to peers like Mitsubishi Electric and Panasonic, which have grown by 30% and 46%, respectively. Elliott aims to leverage Daikin's forthcoming medium-term management plan to enhance shareholder returns and address undervaluation.