US hedge fund Farallon presses Japanese insurer T&D to reform

TOKYO — Japanese insurance company T&D Holdings is being pressured by American activist investor Farallon Capital Management to sell off cross-shareholdings instead of engaging in “concealment” and to boost synergies between subsidiary insurance providers.

Farallon began investing in T&D in 2008, with its stake now amounting to 4.6% of the voting rights. It has called for improvements at the insurer multiple times since April 2023 and has held meetings with management.