Elliott, a radical investment institution, bought shares in Daqin Industrial, causing the stock price to surge by 14%.

Daikin Industries' stock price has hit its largest increase since 2009, as Elliott Investment Management Company has acquired a stake in the Japanese air conditioning manufacturer and stated that its stock price is "severely undervalued." They have called for the company to improve its profitability, enhance shareholder returns, and divest non-core businesses. In Thursday's early trading in Tokyo, the stock price rose by 14% after the activist investor disclosed a significant stake in Daikin Industries. Elliott stated, "We are committed to engaging in constructive cooperation with the company." Recently, Elliott successfully pushed Toyota Group to increase its acquisition offer for Toyoda Automatic Loom, and is now ramping up its investments in the Japanese market. Last month, the firm announced its investment in shipping company Nippon Yusen, as part of the surge in aggressive investments in the Japanese corporate world where there is increasing pressure for companies to prioritize shareholder returns. Analysts at SMBC Nikko Securities wrote in a report, "We believe that with Elliott's investment support, Daikin Industries needs to strengthen its communication and interaction with the capital markets in order to attract investors' attention back to its stock." Daikin Industries has confirmed Elliott's investment but has declined to comment.