U.K.-based activist fund Palliser Capital has expanded its hunt for overlooked artificial intelligence beneficiaries in Japan with a stake in seasoning-maker Ajinomoto, according to people familiar with the matter.
Palliser has built a position in Ajinomoto within the past six months and is lobbying for the firm to raise prices for its chip-insulation products, the people said, asking not to be named as the information is private. Palliser is now among Ajinomoto¡¯s top 25 shareholders, they said.
The fund is calling for a more than 30% increase in prices for Ajinomoto Build-Up Film (ABF), a document shows. ABF is used to package high-performance semiconductors, and Palliser believes Ajinomoto is missing out on substantial share price upside from the AI infrastructure build-out, the document shows.
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