Notice Regarding Changes in Major Shareholders and the Largest Shareholder Among the Major Shareholders | Kao Corporation (4452) timely disclosure

Worth reading

31Immaterial

0–100. This measures how worthwhile something is to read, not how good or bad the company is.

Direction

Neutral

Direction inferred from the company’s description.

Scale

2.59

percentage points (increase in voting rights ownership ratio)

Wording

Conditional

How definitive the wording is.

Change in the Major Shareholder and Largest Shareholder among the Major Shareholders

Subject Entity

Oasis Management Company Limited

OccurrenceAs of 18 March 2026

8 days later

Awareness or receipt of notice26 March 2026 (confirmed upon filing of the Change Report)

This disclosure03/27/2026

Change in voting rights ownership ratio

Shareholders Covered9.93％→12.52％（+2.59pt）

The voting rights ownership percentage is the proportion of the voting rights exercisable at a shareholders' meeting held by the shareholder.

Voting rights ownership percentage before the change

449,266 voting rights (44,926,656 shares), 9.93% (as of 13 March 2026)

Voting rights ownership percentage after the change

566,399 voting rights (56,639,956 shares), 12.52% (as of 18 March 2026)

Impact on Earnings Forecast

There are no matters requiring particular disclosure regarding the outlook at this time.

Related procedures

Court or authority

Kanto Local Finance Bureau

Outlook

This change is based on the Change Report, and there are no matters of particular note regarding the outlook.

Event that occurred
Item	Details
Event name	Change in the Major Shareholder and Largest Shareholder among the Major Shareholders
Date of occurrence	As of 18 March 2026
Date recognized / date notice received	26 March 2026 (confirmed upon filing of the Change Report)
Subject Entity	Oasis Management Company Limited
Impact on Earnings Forecast	There are no matters requiring particular disclosure regarding the outlook at this time.
Court or authority	Kanto Local Finance Bureau
Voting rights ownership percentage before the change	449,266 voting rights (44,926,656 shares), 9.93% (as of 13 March 2026)
Voting rights ownership percentage after the change	566,399 voting rights (56,639,956 shares), 12.52% (as of 18 March 2026)
Outlook	This change is based on the Change Report, and there are no matters of particular note regarding the outlook.

Items this document does not state (16)

Target Locations / ProductsCauseAmount of Impact on Business PerformanceAccounting period in which recognizedType of litigation or proceedingPlaintiffDefendantDate of filing / date of actionClaim amount / surcharge amountAmount of receivables at risk of non-collection or delayed collectionSuspended operationsScheduled resumption dateInvestigation structureMeasures to prevent recurrenceDirectors' and officers' liabilityPlanned follow-up disclosure

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 Company confirmed the change when a Change Report was filed with the Kanto Local Finance Bureau on 26 March 2026. No specific reason for the increase in the ownership ratio was stated.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.

Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.

Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.