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Sumitomo Realty & Development Co Ltd faces pressure to revamp its strategies and improve performance as its stock is deemed undervalued by its largest shareholder, Elliott Investment Management.

Elliott Investment Management has called on Sumitomo Realty & Development Co Ltd to improve corporate governance and boost shareholder returns, citing a 40% undervaluation of the company’s stock.

Sumitomo Realty & Development Co Ltd has received investment from activist investor Elliott Investment Management, leading to a stock price surge and a postal ballot to appoint a new manager.