Loeb Raises Japan Bet as IHI Stake Follows Sony, SoftBank
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Billionaire Daniel Loeb looks like he’s going to be spending even more time in Japan.
Third Point LLC, the hedge-fund firm he founded, revealed a stake this week in IHI Corp., saying investors are undervaluing the land and buildings owned by Japan’s biggest plane-engine maker. The announcement followed an investment disclosed in November in SoftBank Corp. and another in Sony Corp. made public in May 2013.