LONDON, March 9, 2023 — Elliott Advisors (UK) Limited (“Elliott”), which advises funds that together hold a significant investment in Dai Nippon Printing (“DNP” or “the Company”), commends DNP’s commitment to execute the largest share buyback in the Company’s history by repurchasing JPY300bn of stock, or 30% of DNP’s market capitalization, and to take other value-enhancing actions. In Elliott’s view, the steps announced yesterday demonstrate DNP’s commitment to addressing the Company’s undervaluation. Elliott looks forward to the full presentation of the Medium-term Management Plan in May, and to continuing the dialogue with the Company as it executes on the Plan.
About Elliott
Elliott Investment Management L.P. manages approximately $55.7 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.
Media Contacts
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Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
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Brett Wallbutton
Ashton Consulting
T: +81 (0) 3 5425-7220
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SOURCE Elliott Advisors (UK) Limited
