EquitiesShares held by funds engaged with management barely outperform broader marketThe combined market capitalization of Japanese equities owned by activist investors reached a new record this year. (Photo by Mayumi Tsumita)RISA SATOJuly 1, 2026 01:26 JSTTOKYO -- Activist investors are hardly eking out higher returns than the broader Japanese stock market, a recent study shows, suggesting that this may fuel a push for more radical corporate reforms.