Risk of Ichigo Trust becoming the parent company and changes in control
First written in FY2020. 4 of 12 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-09-28.
Japan Display moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
56 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「Ichigo Trust (standing proxy: The Hongkong and Shanghai Banking Corporation, Tokyo Branch) 3,034,222,222 78.19」
The company reconfirmed that Ichigo Trust remains the controlling shareholder, holding 78.20% of voting rights. This is broadly in line with the 78.2% disclosed previously. - FY2023WorsenedAnnual report
「As of the filing date of this annual securities report, いちご was the controlling shareholder, directly holding shares representing 78.2% of the voting rights attached to the Company's issued shares.」
Ichigo's voting-rights ratio rose from 49.28% at the end of the previous fiscal year to 78.2%, explicitly establishing that it had significant influence over ordinary and special resolutions at shareholders' meetings as the controlling shareholder. - FY2023-Q3MaterialisedAnnual report
「Through the conversion into these common shares, Ichigo Trust became the company's controlling shareholder.」
The possibility of becoming a controlling shareholder had previously been conditional on the conversion of preferred shares into common shares and other matters, but Ichigo Trust actually became the controlling shareholder through the conversion of Class B and Class D preferred shares. - FY2022WorsenedAnnual report
「At the end of the consolidated fiscal year, Ichigo Trust was the largest shareholder, directly holding shares equivalent to 49.28% of the voting rights attached to the company's issued shares. If the acquisition rights attached to the preferred shares held by Ichigo Trust, with the company's common shares as consideration, are exercised and Ichigo Trust comes to hold shares equivalent to more than half of the voting rights attached to the company's issued shares, Ichigo Trust will become the controlling shareholder.」
Ichigo Trust’s voting-rights ratio increased from 44.26% to 49.28%, and the Company described the possibility of Ichigo Trust becoming the controlling shareholder by holding a majority through conversion into common shares as being closer. - FY2021-Q2RestatedAnnual report
「Ichigo Trust (standing proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch) 672,000,500 26.48」
It was stated that Ichigo Trust held 26.48% based on total shares issued and 44.26% based on voting rights. The conditional risk of a future change in control, with the voting rights ratio potentially reaching 80.2% through conversion into Class E preferred shares and other measures, remains. - FY2021-Q1WorsenedAnnual report
「At the same time, payment for the third-party allotment of Class D preferred shares by Ichigo Trust was completed, and the third-party allotment of Class D preferred shares and the third-party allotment of these new share acquisition rights were carried out.」
Ichigo Trust completed the payment for the Class D preferred shares and the issuance of warrants to subscribe for Class E preferred shares, partially giving concrete form to a capital structure that could lead to the company becoming a parent company and to a change in control. Conversion into common shares and realization of a maximum voting interest of 80.2% remain subject to future conditions. - FY2020First statedAnnual report
「Ichigo Trust is expected to hold voting rights representing up to 80.2% of the Company's common shares, making it the Company's parent company.」
The company disclosed for the first time the risk that Ichigo Trust could acquire up to 80.2% of the voting rights and become the parent company through the conversion of preferred shares and other measures, in place of Suwa.