Liquidity and Share Price Impact of the Holding and Disposal Policies of CLSA and Major Shareholders
First written in FY2022. 3 of 6 entries say "Mitigated", first in FY2023. Latest entry: 2026-04-06.
Lifedrink Company moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2019: 3 of 15 companies on the "Worse" side.
5 other companies' latest entry also says "Reframed".
- 2026-04-06ReframedOccurring Fact
「Overview of the new major shareholder and the shareholder who will become the largest major shareholder」
After references to the former major shareholders, the Sunrise Capital funds, were removed, アイリスオーヤマ株式会社 became a new major shareholder and the largest shareholder, with its voting-rights ratio rising from 0.87% to 10.14%. The disclosure indicates a change in the shareholder composition but contains no discussion of holding or disposal policies or the impact on liquidity or the share price. - FY2026-H1DroppedAnnual report
「As of 30 September 2025, Sunrise Capital II, L.P., Sunrise Capital II (Non-U.S.), and Sunrise Capital II (JPY) were no longer major shareholders. Accordingly, the relationship with Sunrise Capital Corporation described in “⑮ Relationship with Sunrise Capital Corporation” in the annual securities report for the previous fiscal year no longer existed.」
As the Sunrise Capital funds were no longer major shareholders, the disclosure of risks to liquidity and share price formation arising from the relationship with these shareholders was removed. - FY2025-H1MitigatedAnnual report
「ＳＵＮＲＩＳＥ ＣＡＰＩＴＡＬ Ⅱ，Ｌ．Ｐ． 1,386 10.6 ＳＵＮＲＩＳＥ ＣＡＰＩＴＡＬ Ⅱ（ＮＯＮ－ＵＳ），Ｌ．Ｐ． 1,235 9.4」
As of 30 September 2024, the two Sunrise Capital funds listed in the table held a combined 20.0%, down from 51.8% previously and 22.4% disclosed for the immediately preceding fiscal year. The risk of an impact on liquidity and share price formation from their ownership and disposal policy remains. - FY2024MitigatedAnnual report
「As of 31 May 2024, Sunrise Capital II, L.P., Sunrise Capital II (Non-U.S.), L.P., and Sunrise Capital II (JPY), L.P., which are shareholders of the Company, held 22.4% of the total number of shares issued by the Company.」
The holding ratio of the Sunrise Capital funds declined from 51.8% in the previous fiscal year to 22.4%. The risk of an impact on liquidity and share price formation from their ownership and disposal policy remains. - FY2023MitigatedAnnual report
「As of 31 May 2023, Sunrise Capital II, L.P., Sunrise Capital II (Non-U.S.), L.P., and Sunrise Capital II (JPY), L.P., which are shareholders of the Company, held 51.8% of the total number of shares issued by the Company.」
The holding ratio of the Sunrise Capital funds declined from 53.6% stated for the previous fiscal year to 51.8%. The risk of an impact on liquidity and share price formation from their ownership and disposal policy remains. - FY2022First statedAnnual report
「Sunrise Capital II, L.P., Sunrise Capital II (Non-U.S.), L.P., and Sunrise Capital II (JPY), L.P., which are shareholders of the Company, hold 53.6% of the total number of shares issued by the Company. Depending on these shareholders’ ownership and disposal policy for the Company’s shares, the liquidity and price formation of the Company’s shares may be affected.」
The holding ratio of the Sunrise Capital funds is 53.6%, and their relationship with CLSA, the sub-adviser, involving the appointment of directors is described; the impact of their ownership and disposal policy is identified as a risk.