EquitiesNomura, other investors want to see rail operators unlock value of underutilized real estateActivist investor Aya Nomura acquired stakes in rail operators Kintetsu Group Holdings and Keihan Holdings. (Source photos by Kintetsu Railway and Nikkei)TAIZO WADA and ATARU SHIMIZUJune 4, 2026 06:24 JSTTOKYO -- Activist investors are building stakes in Japanese railway operators, betting the companies can unlock greater shareholder value from property holdings and other underutilized assets.Read NextLatest on Equities