Governance structure
an other affiliated company, not a listed parent company). Its voting rights ownership ratio is 3.12% directly, 27.25% subject to aggregation and 30.37% in total. A Large Shareholding Report dated 8 April 2026 reported that the entire 27.25% subject to aggregation had become directly owned. Reflecting this, direct ownership was 30.37%.
When one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
The company notes that, after the record date, the 27.25% subject to aggregation became directly owned by Sumitomo Forestry Co.,Ltd. It also disclosed the status of interlocking officer positions with Sumitomo Forestry Co.,Ltd. and transaction details.
| Item | Details |
|---|---|
| Controlling shareholder | Sumitomo Forestry Co.,Ltd. (an other affiliated company, not a listed parent company). Its voting rights ownership ratio is 3.12% directly, 27.25% subject to aggregation and 30.37% in total. A Large Shareholding Report dated 8 April 2026 reported that the entire 27.25% subject to aggregation had become directly owned. Reflecting this, direct ownership was 30.37%. |
| Changes this time | The company notes that, after the record date, the 27.25% subject to aggregation became directly owned by Sumitomo Forestry Co.,Ltd. It also disclosed the status of interlocking officer positions with Sumitomo Forestry Co.,Ltd. and transaction details. |
Items this document does not state (6)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The companies respect each other's independence while seeking to create synergies through their capital and business alliance with Sumitomo Forestry Co.,Ltd. The reason given for the interlocking officer positions is to apply industry experience and expertise, as well as knowledge of corporate management and governance, to the company's management and audit structure and to strengthen the business alliance.