U.S. fund Perry buys shares in NEC Corp -Nikkei
TOKYO, March 27 (Reuters) - U.S. investment fund Perry Capital has taken a stake in electronics conglomerate NEC Corp (6701.T: Quote, Profile, Research) with an aim of putting further pressure on management to make changes at its chip unit, the Nikkei business daily reported on Thursday.
Perry holds about a 6 percent stake in NEC Electronics Corp (6723.T: Quote, Profile, Research), a struggling semiconductor maker majority owned by NEC Corp.
Perry has been urging NEC Corp to sell down its stake in its chip unit while pushing for better returns.
Perry decided to take a stake in NEC Corp to allow it to participate in a general shareholders meeting in June where it will call on management to make reforms, the Nikkei said.
Perry is not thought to be planning to take a large stake in NEC Corp, the Nikkei said. (Reporting by Nathan Layne; Editing by Chris Gallagher)
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