Minoru Nakamura

SFP is a value-oriented alternative investment manager with a long-term outlook, following a long/short investment approach. They are Japanese equity specialists and seek to invest in small-cap companies of limited liquidity, listed on regional exchanges and trading substantially below book value. The firm's investment strategy is predominantly long-only but they occasionally follow a shorting strategy. Their SFP Value Realization Fund is a diversified, equity market oriented fund focusing on turnaround situations and following a long/short strategy. They view themselves as business investors and acquire company shares both through open markets and through off-market purchases. The firm aims at working with management to improve corporate governance, performance and shareholder value. Occasionally SFP will seek board representation. They proactively encourage investor relations actions, dividend raises, share buybacks, exchange listing upgrades, the sale of non-core assets and strengthening the management team. One of the firm's partners focuses on mergers and acquisitions as well as company valuation, the other sources and analyses investment ideas. Investments are divested once the value of the company has increased, through open market sales, sales to private equity or strategic investors, or management buyouts.