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7 Feb 2020 By Jeffrey Goldfarb Follow @jgfarb

Stodgy Tokyo Dome, the $870 mln owner of the Yomiuri Giants’ home baseball field, has been targeted by pushy investor Oasis. Many modernisation suggestions, such as installing digital ad screens, should be home runs. Recalcitrance could attract pitches from private equity.

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Oasis Management said on Jan. 30 it had lifted its stake in Tokyo Dome, which operates the stadium where the Yomiuri Giants baseball team plays, to 9.6% from 5.4%.

The activist investment firm initiated a public campaign against the company in December to upgrade its facilities, improve corporate governance and sell less important assets. It said it has “engaged with” Tokyo Dome management since 2018.

A Tokyo Dome spokesman declined requests to respond to the Oasis proposal, saying in an emailed statement that it is “working on the business to achieve sustainable growth of the company and increase corporate value over the medium to long term”.

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