Tokyo Steel Shares Soar as Oasis Stake Sparks Restructuring Hope

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By Alice French

April 3, 2026 at 4:03 AM UTC

Tokyo Steel Manufacturing Co.’s stock surged as much as 21% after activist fund Oasis Management Co. disclosed a stake in the Japanese firm and said it may make proposals.

Shares of the steelmaker gained the most since July 2023 amid expectations that Oasis, which reported its 6.25% stake on Thursday, might push for capital restructuring of the cash-rich firm.