Shibata: Symphony provides free management advisory work prior to investing
Kazuhiko Shibata · David Baran and Kazuhiko Shibata – Friendly Activism in Japan at Symphony (Capital Allocators, EP.176) · Feb 8, 2021 · at 32:26
Kazuhiko Shibata is the co-founder of Symphony Financial Partners, a Japan-focused friendly activist fund. He describes their collaborative approach to corporate engagement.
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“Once we identify the manager, before investing, we'll start working, giving free advice, and I'm trying to be on their side, not the other side of a table and banging a table. That's not our way. We are always trying to be their advisor for free.”
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More from Kazuhiko Shibata
Shibata: Symphony was first hedge fund to sponsor Japanese management buyout
“Actually, we are the first, the hedge fund who sponsored management buyout. Central Uni is the name of the company.”
Shibata: Corporate raiding in Japan faces fierce cultural opposition from management
“So it's pretty tough for example, Japanese management that you will get golden parachute, and we'll buy your company and fire everybody. That's not acceptable to most of Japanese, because they are my friend. I will be ashamed in the community. So buying a Japa…”
Shibata: Historically, shareholders ranked at the bottom of Japanese corporate stakeholders
“Shareholder is lowest ranked in Japan. I should say past tense, not current tense. Shareholder was the lowest ranked. Employee, client, So the total stakeholder, shareholder is the bottom. That has been a long time concept, or Japanese community.”