Elliott Urges Japan Developer Mitsui Fudosan to Buy Back Shares

Elliott Management Corp. is pressing Japanese real estate giant Mitsui Fudosan Co. to buy back shares and sell down its stake in Tokyo Disneyland operator Oriental Land Co., a person familiar with the matter said.

The activist investor has built a stake of at least 2.5% in Japan’s biggest property group, the person said, asking not to be identified because the matter is private. It wants the company to repurchase ¥1 trillion ($6.7 billion) of its shares and sell $3.6 billion worth of Oriental Land stock, the person added.

Mitsui Fudosan shares surged more than 6%, the most in ...