TOKYO (Reuters) – Japan’s Mizuho Financial Group Inc has built a 5.07% stake in Toshiba (OTC:) Corp – a move which comes after the after the Japanese industrial conglomerate returned to the Tokyo Stock Exchange’s top section.
Mizuho’s banking unit, securities unit and asset management arms own 1.24%, 1.7% and 2.13% respectively, a filing from the finance ministry showed.
The news comes after BlackRock Inc (NYSE:) said on Thursday that it had built a 5.21% stake in Toshiba. That made the U.S. asset manager Toshiba’s third-largest shareholder behind hedge funds Effissimo Capital Management and Farallon Capital Management, a source familiar with the matter said.
Toshiba, which is embroiled in a long-running row with activist shareholders including Singapore-based Effissimo, has said the return to the TSE’s first section would lure buying from investors in stock indexes. Toshiba rejoined Japan’s index of top tier shares on Feb. 25.
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