Activist Says Japanese Founding Families Failing to Boost Shares

A London-based activist investor has fired off a series of letters to the directors of two Japanese companies largely owned by their founding families saying they are responsible for share prices at “extremely depressed” levels.

The shares of Tsutsumi Jewelry Co. and staffing services provider Pasona Group Inc. are being allowed to stagnate to the detriment of minority investors, Satoru Matsuhashi, a representative at Nanahoshi Management (UK) Ltd., said in letters to the firms.