Key facts
- Farallon Capital Management disclosed a 5.02% stake in Yamato Holdings in a large shareholding report filed on November 2, 2026.
- Farallon said Yamato missed its own operating profit targets in each of the five fiscal years through the year ended March 2026.
- Farallon attributed the shortfall to management failing to revise its policies and decision-making as the business environment changed.
- Farallon proposed that chairman Yutaka Nagao, who has led the company for years, step down from the board.
- Yamato shares were recently 14% higher at 2,240 yen, a gain the report described as the largest in 18 years.
Yamato Holdings Co. shares rose 14% to 2,240 yen on November 4, 2026, the biggest gain in 18 years, after Farallon Capital Management LLC reported a stake in the Japanese logistics company and called for a management shakeup.
In a large shareholding report filed on November 2, 2026, the San Francisco hedge fund disclosed a 5.02% holding in Yamato, whose Yamato Transport unit runs parcel delivery operations. Farallon said Yamato's profitability lagged that of peers and proposed that chairman Yutaka Nagao, who has led the company for years, leave the board to allow sweeping management reform.
Farallon said Yamato missed the operating profit targets it published at the start of each fiscal year for five consecutive years through the year ended March 2026. It attributed the shortfall mainly to management's failure to review its policies and decision-making even as the business environment changed, and argued that Nagao's departure is needed for reform.