Tokyo Gas Co. experienced a significant surge of 15% in its shares during early trading on Wednesday. This increase is the largest the company has seen since 1987.

The surge in share prices follows the news that Elliott Investment Management, a US activist fund, has acquired a 5.03% stake in Tokyo Gas. This move by Elliott has generated interest and optimism among investors. According to recent filings with Japan"s finance ministry, Elliott may propose significant changes to Tokyo Gas"s operations. It is believed that Elliott is advocating for the sale of certain properties and real estate assets, including the Park Hyatt Tokyo hotel, in order to improve the company"s capital efficiency. These proposed changes could have a significant impact on Tokyo Gas"s financial landscape as it navigates potential restructuring efforts.