Daniel Loeb proposed a breakup of Sony Corp.  This was after stating his hedge fund was the biggest owner of the said company.  Sony Corp. is a part of the Goldman Sachs Group Inc. and the Finance Ministry of Japan.

The data from Sony does not support the claim of billionaire Loeb.  The Japanese company is clouded by cash settled swaps and convertible bonds used by Third Point LLC held by Signum Coral Ltd. This was found out after Sony board members deliberate of Third Point LLC's initial public offering call. The IPO included partly selling the company's entertainment assets.   

Loeb wrote a letter to Sony CEO Kazuo Hirai last month stating that Third Point LLC has exposure to roughly 64 million of Sony shares.

Third Point has not lodged a notice with Japan's government after exceeding the allowed stake threshold. This was according to a search of filings. Shareholdings in Japan that are more than 5% should be reported to the country's Ministry of Finance.

A letter dated May 14 said that the New York based hedge fund used cash settled swaps for investment that are at 38%.