Japan Tobacco Inc (JTI) is being pushed to sell its listed drug unit Torii Pharmaceutical Co by its shareholder LIM Advisors, reports Reuters.

Hong Kong-based activist fund LIM Advisors, a shareholder in JTI, has called on the company to boost its shareholder value by divesting its 53 per cent stake in drug unit Torii Pharmaceutical Co and launching a JPY 250 billion (USD 1.94 billion) share buyback with the proceeds, reports Reuters.
LIM said it will bring its proposal to the annual general shareholders’ meeting in March and while JTI confirmed it had received the proposal, a spokesperson told Reuters, they could not comment on the matter and stated, “We are currently in the process of scrutinising the content and legal matters.”
LIM holds less than 1 per cent of JTI shares and will also be pushing to amend corporate charters such as banning JTI executives retiring to take jobs at Torii, a type of golden parachute arrangement known as “amakudari”, according to Reuters.
The company has been behind several of such motions in recent years, including lobbying against amakudari at Nissan Motor Co subsidiary Nissan Shattai Co in 2022.