Perry Capital has taken a small stake in NEC, underlining the US investment fund’s determination to increase pressure on the struggling Japanese electronics group to improve returns at its semiconductor arm, NEC Electronics.

The stake – less than 5 per cent – will allow the US fund to take its grievances directly to the parent company, which controls more than 70 per cent of NEC Electronics, its listed subsidiary. Perry has a 6 per cent stake in NEC Electronics.