UK hedge fund TCI has challenged Japanese attempts to control foreign investments.

In a bid to boost its stake in Japanese utility J-Power to up to 20 percent, the Children's investment fund, or TCI, has been pressuring the electricity wholesaler to improve corporate governance.

The activist investor has even said in a statement that it would take the Japanese government to court if it rejected its bid. The standoff between TCI and the government over the electricity wholesaler is being watched closely as a test for how open Japan is to foreign investment.

More at; TCI Challenges Japanese Government On Foreign Investment Policy