Activist investor ValueAct builds 8.7% stake in Trend Micro

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Activist investor ValueAct builds 8.7% stake in Trend Micro

TOKYO Activist investor ValueAct Capital Partners said on Tuesday it had built an 8.7 per cent stake in Trend Micro Inc, a cybersecurity software company that drives shares of the Tokyo-listed firm sharply higher.

On Tuesday morning, Trend Micro's market value increased by more than 7 per cent, as it had a market value of over $8 billion.

ValueAct is a group of U.S. firms that have invested heavily in Japanese companies and have tried to work with management and the boards to make some changes.

Its holding in Trend Micro follows investments in Olympus Corp, Nintendo Co, chip-related materials maker JSR Corp and 7 i Holdings owner Seven i Holdings.

ValueAct believes that Trend Micro could join other successfully transformed software companies as its transformation into a cloud-based cybersecurity platform has just begun.