Japan Tobacco urged to sell drug unit by activist shareholder LIM

TOKYO (Reuters) -Japan Tobacco Inc, the cigarette conglomerate one-third owned by the government, is facing a shareholder motion to sell off its listed drug unit Torii Pharmaceutical Co to boost shareholder value.

东京（路透社）——政府拥有三分之一股权的烟草集团日本烟草公司正面临一项股东动议，要求出售其上市药品子公司 torii pharmaceutical co，以提高股东价值。

Hong Kong-based activist fund LIM Advisors called on Japan Tobacco, in a letter reviewed by Reuters, to divest its 53% stake in the drug maker, known mainly for its anti-allergy products, and launch 250 billion yen ($1.94 billion) share buybacks with the proceeds.

总部位于香港的维权基金 lim advisors 在路透社看到的一封信中呼吁日本烟草公司剥离其在这家主要以抗过敏产品而闻名的制药商 53% 的股份，并发行 2500 亿日元（19.4 亿美元）的股份用收益回购。

The letter also said Japan Tobacco doesnt have synergies with the drug unit or the expertise to manage its research and development and LIM plans to bring its proposal to the annual general meeting of shareholders in March.

信中还表示，日本烟草与药品部门没有协同效应，也没有管理其研发的专业知识，lim 计划将其提议提交给 3 月份的年度股东大会。

Japan Tobacco acknowledged receiving the proposal but said it could not elaborate on the contents of the letter. “We are currently in the process of scrutinising the content and legal matters,” it told Reuters.

日本烟草公司承认收到了该提案，但表示无法详细说明信件的内容。 “我们目前正在审查内容和法律问题，”它告诉路透社。

LIM declined to comment.

林拒绝置评。

The proposal by LIM, which holds less than 1% of Japan Tobacco shares, comes as Japanese regulators have frowned on so-called parent-child listings on the grounds that they can infringe on minority shareholder rights.

持有日本烟草不到 1% 股份的 lim 提出这一提议之际，日本监管机构以可能侵犯少数股东权利为由，反对所谓的母子上市。

LIM is also pushing for corporate charter amendments to improve governance, including a prohibition of Japan Tobacco executives retiring to take jobs at Torii, a type of golden parachute arrangement known as “amakudari.”

lim 还在推动公司章程修正案以改善治理，包括禁止日本烟草公司高管退休到 torii 工作，这是一种被称为“amakudari”的黄金降落伞安排。

LIM, established in 1995 by investment fund veteran George Long, has launched several governance motions in Japan in recent years.

lim 由投资基金资深人士 george long 于 1995 年创立，近年来在日本发起了多项治理动议。

In 2021, the fund proposed that advertising company Digital Holdings Inc divest a listed subsidiary, and last year lobbied against amakudari at Nissan Motor Co subsidiary Nissan Shattai Co.

2021 年，该基金提议广告公司 digital holdings inc 剥离一家上市子公司，并于去年游说日产汽车子公司 nissan shattai co. 反对 amakudari。

($1 = 128.5800 yen)

($1 = 128.5800 日元)

(Reporting by Rocky Swift; Additional reporting by Mariko Katsumura and Chang-Ran Kim; Editing by Miyoung Kim and Elaine Hardcastle)

（rocky swift 的报道；mariko katsumura 和 chang-ran kim 的补充报道；miyoung kim 和 elaine hardcastle 的编辑）