Japan blocks TCI attempt to boost J-Power stake

TOKYO, May 13 (Reuters) - The Japanese government issued an order to British activist investor group TCI on Tuesday not to boost its stake in Japanese electricity wholesaler J-Power (9513.T: Quote, Profile, Research).

A joint statement issued by the trade and finance ministries said that based on Japanese law the government ordered The Children's Investment Fund (TCI) to abandon its plan to boost its stake in J-Power to 20 percent from the current 9.9 percent.

London-based TCI has been urging J-Power to boost its returns. The requests included appointing external board members and increasing dividend payments. (Reporting by Junko Fujita)