Triangle Love Drama: Who Will Keisei Choose?
Triangle Love Drama: Who Will Keisei Choose? As we all know, and have been constantly reminded of these first few weeks of the course, creating shareholder value is one of the fundamentals in the corporate finance world. And upon scouring the Financial Times for some daily news intake, I stumbled across an article that I believe perfectly highlights the exact opposite of what a company should do if they want to maintain or attract any new investors. The article in question revolves around a Japanese railway company with a significantly large stake in the owner of Tokyo Disneyland, and the valiant efforts of a UK based fund to unlock the trapped shareholder value within the railway company. Additionally, the article discusses the concerns of modern corporate Japan's overall quest for better corporate governance. Our story begins with Keisei Electric Railway, a company most notable for its operation of trains around Tokyo, including the vital line from Narita airport into the city c...