Nintendo family office says it has a chance in battle for control of 93-year-old Japanese construction firm

The family office linked to Nintendo says it has a good chance in its battle for control of a 93-year-old Japanese construction company.

Toyo Construction, a firm known for its marine engineering operations, manages about 200 billion $1.5 billion in assets against the 10 Family Office YFO, which manages about 200 billion $1.5 billion in assets. YFO says it has accumulated 27% of Toyo Construction's shares, mostly in the market.

Hirowaka Murakami, YFO's chief investment officer, said if we can create business innovation through our investment in Toyo Construction and build technologies that we can sell to the world, that is good for industries in Japan as well. Toyo has balked, but he said that YFO's bid has the support of a number of institutional investors.

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