Elliott Statement on Sumitomo Realty & Development Co., Ltd.
Elliott Investment Management (Elliott), which manages funds holding over 3% ownership in Sumitomo Realty & Development (OTCMKTS: SURYY), has issued a statement regarding the company's 2025 Annual General Meeting results. Elliott, one of Sumitomo Realty's largest shareholders, highlighted concerns about the low approval rate for senior management during the meeting.
Despite acknowledging Sumitomo Realty's high-quality portfolio, Elliott emphasized that the company remains Japan's most undervalued real estate developer. The investment firm pointed to several critical issues requiring urgent attention, including poor shareholder returns, excessive cross-shareholdings, insufficient capital efficiency focus, and subpar corporate governance.
Elliott Investment Management (Elliott), che gestisce fondi con una partecipazione superiore al 3% in Sumitomo Realty & Development (OTCMKTS: SURYY), ha rilasciato una dichiarazione riguardo ai risultati dell'Assemblea Generale Annuale 2025 della società. Elliott, uno dei maggiori azionisti di Sumitomo Realty, ha espresso preoccupazione per il basso tasso di approvazione del management senior durante l'incontro.
Pur riconoscendo l'elevata qualità del portafoglio di Sumitomo Realty, Elliott ha sottolineato che l'azienda rimane il sviluppatore immobiliare più sottovalutato del Giappone. La società di investimento ha evidenziato diverse questioni critiche che richiedono un intervento urgente, tra cui i deludenti ritorni per gli azionisti, l'eccessiva presenza di partecipazioni incrociate, la scarsa attenzione all'efficienza del capitale e una governance aziendale insufficiente.
Elliott Investment Management (Elliott), que gestiona fondos con una participación superior al 3% en Sumitomo Realty & Development (OTCMKTS: SURYY), ha emitido una declaración sobre los resultados de la Junta General Anual 2025 de la empresa. Elliott, uno de los mayores accionistas de Sumitomo Realty, destacó su preocupación por la baja tasa de aprobación del equipo directivo durante la reunión.
Aunque reconoció la alta calidad del portafolio de Sumitomo Realty, Elliott enfatizó que la compañía sigue siendo el desarrollador inmobiliario más infravalorado de Japón. La firma de inversión señaló varios problemas críticos que requieren atención urgente, incluyendo pobres retornos para los accionistas, excesivas participaciones cruzadas, falta de enfoque en la eficiencia del capital y una gobernanza corporativa deficiente.
Elliott Investment Management (Elliott)는 Sumitomo Realty & Development(OTCMKTS: SURYY)의 3% 이상 지분을 보유한 펀드를 관리하며, 회사의 2025년 연례 주주총회 결과에 관한 성명을 발표했습니다. Sumitomo Realty의 주요 주주 중 하나인 Elliott는 회의 중 고위 경영진에 대한 낮은 승인율에 대해 우려를 표명했습니다.
Sumitomo Realty의 고품질 포트폴리오를 인정하면서도, Elliott는 이 회사가 일본에서 가장 저평가된 부동산 개발업체임을 강조했습니다. 투자 회사는 주주 수익률 저조, 과도한 교차 지분 보유, 자본 효율성 부족, 그리고 미흡한 기업 지배구조 등 시급히 해결해야 할 여러 중요한 문제를 지적했습니다.
Elliott Investment Management (Elliott), qui gère des fonds détenant plus de 3% de participation dans Sumitomo Realty & Development (OTCMKTS : SURYY), a publié une déclaration concernant les résultats de l'Assemblée Générale Annuelle 2025 de la société. Elliott, l'un des principaux actionnaires de Sumitomo Realty, a souligné ses préoccupations quant au faible taux d'approbation de la haute direction lors de la réunion.
Tout en reconnaissant la qualité élevée du portefeuille de Sumitomo Realty, Elliott a insisté sur le fait que l'entreprise reste le développeur immobilier le plus sous-évalué du Japon. La société d'investissement a pointé plusieurs problèmes critiques nécessitant une attention urgente, notamment les faibles rendements pour les actionnaires, les participations croisées excessives, un manque de concentration sur l'efficacité du capital et une gouvernance d'entreprise médiocre.
Elliott Investment Management (Elliott), das Fonds mit über 3% Anteilen an Sumitomo Realty & Development (OTCMKTS: SURYY) verwaltet, hat eine Stellungnahme zu den Ergebnissen der Hauptversammlung 2025 des Unternehmens veröffentlicht. Elliott, einer der größten Aktionäre von Sumitomo Realty, äußerte Bedenken bezüglich der niedrigen Zustimmungsrate für das obere Management während der Versammlung.
Trotz der Anerkennung des hochwertigen Portfolios von Sumitomo Realty betonte Elliott, dass das Unternehmen der am meisten unterbewertete Immobilienentwickler Japans bleibt. Die Investmentfirma wies auf mehrere kritische Probleme hin, die dringend Aufmerksamkeit erfordern, darunter schlechte Aktionärsrenditen, übermäßige Kreuzbeteiligungen, unzureichender Fokus auf Kapitaleffizienz und mangelhafte Unternehmensführung.
- None.
- Low approval rate for senior management at AGM indicates investor dissatisfaction
- Poor shareholder returns reported by Elliott
- Excessive cross-shareholdings identified as concern
- Lack of focus on capital efficiency
- Subpar corporate governance practices
- Company labeled as Japan's most undervalued real estate developer
In our view, the low approval rate for members of senior management reflects investor dissatisfaction with the Company's current course. Despite Sumitomo Realty's high-quality portfolio, the Company remains
As we have previously stated and tried to impress upon management, urgent action is needed to address the Company's poor shareholder returns, excessive cross-shareholdings, lack of focus on capital efficiency, and subpar corporate governance.
We value our dialogue with Sumitomo Realty's management and look forward to continuing our engagement to support clear, near-term steps that resolve the Company's self-imposed challenges.
About Elliott
Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately
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Elliott Advisors (
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Brett Wallbutton
Ashton Consulting
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b.wallbutton@ashton.jp
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SOURCE Elliott Investment Management L.P.
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