Business | Schumpeter

Japan toys with shareholder capitalism just as the West balks

Activist investors are taking a ninja-like approach to stodgy companies

AYA MURAKAMI hardly looks like a corporate raider. Dressed in black, the slight 31-year-old is, if anything, more like a kunoichi, or female ninja. In her office above a 7-Eleven store in Tokyo, she is disarmingly frank. She tells how, as a youngster, her father Yoshiaki Murakami, a well-known bureaucrat turned activist investor, taught her the value of money by making her bet on the cost of dinner. As a teenager, she once caught a glimpse of him on television on a flight home from boarding school in Switzerland. Shortly afterwards, in 2007, he was convicted of insider trading. At university in Japan, her fellow students pointed fingers at her.

This article appeared in the Business section of the print edition under the headline “Ninja activists”

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