Categories: Business

Elliott Statement on Sumitomo Realty & Development Co., Ltd.

LONDON, Aug. 12, 2025 /PRNewswire/ — Elliott Investment Management, L.P. and Elliott Advisors (UK) Limited (“Elliott”), which advise funds that together have a more than 3% ownership stake in Sumitomo Realty & Development Co., Ltd. (“Sumitomo Realty” or the “Company”), making Elliott one of the Company’s largest shareholders, note last week’s announcement from the Company.

- Advertisement -

We believe the Company’s “Policy on Utilizing Fixed Assets and Leveraging Strategic Shareholdings” lacks both ambition and urgency. This policy falls short in achieving capital efficiency, enhancing shareholder returns and reducing cross shareholdings. As a result, the Company’s valuation continues to suffer.

- Advertisement -

The Company’s asset sale target of ¥200 billion represents just a small fraction of Sumitomo Realty’s total leasing portfolio and may not be completed until the 2030s. Similarly, the Company’s 10-year timeframe to divest ¥400 billion of its portfolio of strategic shareholdings is far too long. Cross shareholdings remain an immediate concern and, in our view, are a key reason for the Company’s low shareholder approval at this year’s AGM.

Sumitomo Realty must expand its ambitions and accelerate the implementation of its envisioned policy. This would unlock capital for higher-return growth projects and increased shareholder returns, helping to address the Company’s persistent undervaluation. 

- Advertisement -

We will continue to work constructively with Sumitomo Realty’s management team and engage with other shareholders to address these issues and raise the Company’s corporate value.

- Advertisement -

About Elliott
Elliott Investment Management L.P. (together with its affiliates, “Elliott”) manages approximately $72.7 billion in assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts:

- Advertisement -

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
abest@elliottadvisors.co.uk

- Advertisement -

Tokyo
Brett Wallbutton
Ashton Consulting
T: +81 (0) 3 5425-7220
b.wallbutton@ashton.jp 

Logo – https://mma.prnewswire.com/media/2705826/Elliott_WhiteText_GreenBackground_ID_facf9659ef5c_Logo.jpg

- Advertisement -

View original content:https://www.prnewswire.co.uk/news-releases/elliott-statement-on-sumitomo-realty–development-co-ltd-302527124.html

- Advertisement -
PRNW Agency

Recent Posts

Every Street is a Runway: From Streets to Pandals, Style Baazar Turns Every Step into a Showstopper Walk this Pujo

Celebrate Pujor Sera Saaj with festive fashion starting at just ₹149, across 250 Style Baazar…

2 hours ago

ACEBEAM Unveils K1 EDC Flashlight with Three Light Sources

SHENZHEN, China, Sept. 25, 2025 /PRNewswire/ -- ACEBEAM, a leading innovator in high-performance portable lighting,…

2 hours ago

Banks face fallout as 40% of small and mid-sized merchant businesses eye shift to PayTechs

Press contact:Fahd PashaTel.: +1 647 860 3777E-mail: Fahd.Pasha@capgemini.com Banks face fallout as 40% of small…

3 hours ago

Intermap Technologies Files Prospectus Supplement

The prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents are…

3 hours ago

Kia Announces Pricing for 2026 Sorento PHEV

Numerous exterior design enhancementsTerrain Mode now standard on all AWD trims[1]2026 Kia Sorento PHEV MSRP…

5 hours ago

BYD improves Assisted Driving system in response to Euro NCAPs ATTO 3 grading

LEUVEN, BELGIUM – BYD has responded to the ’Not Recommended’ grading which Euro NCAP gave…

5 hours ago