Nippon Express shares soar after Elliott discloses latest Japan stake

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April 28, 2026 2:42 AM EDT

Nippon Express (NX) demonstrates the robots carrying shelves 'EVE' at the NX Auto Logistics Facility, which enables senior citizens and people with disabilities to handle the work amid an acute labour shortage in Japan, during a media tour in Tokyo, Japan

TOKYO, April 28 (Reuters) - ‌Shares ​of ​Japanese logistics firm Nippon Express Holdings leapt as much as 15% after ‌U.S. activist investor Elliott Investment Management ⁠disclosed a 5.04% stake in the company on ‌Tuesday.

The stake is the ‌latest in a string of investments in Japanese firms by Elliott as ​it ramps up its activity in the country amid a broad wave ⁠of corporate reforms in Japan.

Nippon Express' shares later pared ​some gains and were up around 8% at 4,186 yen per share ​in afternoon trading.

Japanese regulations ‌oblige investors to disclose a shareholding when it rises above ⁠5%. Elliott has not yet released any information regarding the reasoning behind the investment.

Late ⁠last year Elliott launched a campaign calling for ​a higher price in Toyota group companies' take-private of supplier Toyota Industries and in 2026 has ‌disclosed positions in shipper Mitsui O.S.K. Lines and air conditioner ‌manufacturer Daikin, calling for greater focus ⁠on their core ‌businesses and increased ​shareholder returns.

(Reporting by Anton Bridge and Satoshi Sugiyama; Editing by Joe ‌Bavier)


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