Japan’s cross-shareholding structures

Japan’s cross-shareholding structures are hard to untangle and limit the voting power of outside shareholders. But a London-based money manager is launching an activist campaign against a major Japanese television network, taking aim at the entrenched practice.

Japan Inc. Faces Mounting Pressure as U.K. Investor Targets Broadcaster’s Cross-Shareholdings

Asset Value Investors is launching an activist campaign against Tokyo Broadcasting, taking aim at an entrenched practice in Japan that has many listed companies holding stock in one another.

WSJ.COM