Impact of a fund's disposal of shares on liquidity and price formation
First written in FY2018. 1 of 4 entries say "Restated". Latest entry: FY2023.
Candeal moved to the "Worse" side of this theme in 2022, 2 years before the typical company in this theme (2024).
7 other companies' latest entry also says "Worsened".
- FY2023WorsenedAnnual report
「If Sakai Moving Service Co.,Ltd.'s policy on holding our shares changes, it may affect the liquidity and price formation of our shares. In addition, if the terms of our business alliance with the company change, it may affect our future business plans.」
For Sakai Moving Service Co.,Ltd., which became the largest shareholder, the company additionally specified the risk that changes in the terms of the business alliance, as well as changes in its shareholding policy, could affect business plans. - FY2022ReframedAnnual report
「In August 2022, we entered into a capital and business alliance agreement with Sakai Moving Service Co.,Ltd., which is our largest major shareholder and an other affiliated company. If Sakai Moving Service Co.,Ltd.'s policy on holding our shares changes, it may affect the liquidity and price formation of our shares.」
The focus has shifted from the risk related to the fund's shareholding and disposal policy to the risk of changes in the shareholding policy and alliance terms following Sakai Moving Service Co.,Ltd.'s becoming the largest shareholder and an other affiliated company. - FY2019RestatedAnnual report
「Depending on the shareholding and disposal policy of Shinsei Creations Partners No. 2 Investment Limited Partnership with respect to our shares, it may affect the liquidity and price formation of our shares.」
The company reiterates the risk that the fund's shareholding and disposal policy could affect liquidity and price formation. - FY2018First statedAnnual report
「Depending on the shareholding and disposal policy of Shinsei Creations Partners No. 2 Investment Limited Partnership with respect to our shares, it may affect the liquidity and price formation of our shares.」
The company indicates that the shareholding and disposal policy of the investment fund that is a major shareholder could affect share liquidity and price formation.