The entrance hall of the Kawamura Memorial DIC Museum of Art, in Sakura, Chiba, Japan.
Photographer: Osamu Watanabe/Kawamura Memorial DIC Museum of Art
Rothkos and a Picasso Join List of Activist Targets in Japan
Japanese companies often own expensive art, but one chemicals maker is facing pressure to sell its valuable collection.
For years, a castle-like museum outside Tokyo was a secret spot for Japanese art lovers prepared to make a nearly two-hour trip from the capital to see its collection of 20th-century masterpieces, including a Monet, a Picasso and several Rothkos, scattered throughout the grounds.
Now the owner of Kawamura Memorial DIC Museum of Art, a publicly listed chemicals maker struggling with financial losses, is considering selling its artwork or even shutting down permanently amid pressure from investors. Hedge fund Oasis Management, known for advocating shake-ups at targeted companies, has disclosed an 8.6% stake in DIC Corp.