Japan's trade minister has poured cold water on an attempt by The Children's Investment Fund Management, the UK hedge fund manager behind the bidding war for ABN Amro, to influence Japanese energy company J-Power.

The minister, Akira Amari, was reacting to an 11-page letter published by TCI and attached to this article. Amari pointed to difficulties shareholders faced in trying to drive changes at Japanese companies. New investment regulations mean it is particularly difficult for foreign shareholders to have an impact.