Asset Value Investors of the UK with a 1.5% stake in Tokyo Broadcasting System (TBS) (9401:JP) is campaigning for TBS to sell or reduce its long-held 4.7% stake in Tokyo Electron (TEL) (8035).
TBS was a serial under-performer from 2008 to 2014 but, with the shares having doubled since 2012, its recent relative performance has improved.