Liquidity and Share Price Formation Risks from Fund Shareholders’ Holdings and Disposals
First written in FY2024. 3 of 5 entries say "Restated". Latest entry: 2026-05-29.
The whole theme swung hardest in 2019: 2 of 13 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- 2026-05-29RestatedGovernance
「SHIFT is an other affiliated company that owns 33.21% of the voting rights in the Company, and the Company is an equity-method affiliate of SHIFT.」
The Company reconfirmed that SHIFT is an other affiliated company holding 33.21% of the voting rights. No new impact on liquidity or share price formation from the shareholding was disclosed. - FY2026RestatedAnnual report
「SHIFT became a major shareholder during the current fiscal year.」
Following the transfer of shares from Sunrise Capital to SHIFT, SHIFT became a major shareholder holding 33.19% as of the end of February 2026. This status was reconfirmed. - FY2026-H1RestatedAnnual report
「As stated in the timely disclosure dated 24 April 2025 entitled "(Progress of Disclosed Matters) Notice Regarding Changes in the Largest Major Shareholder and Other Affiliated Company," the changes in the "largest major shareholder" and "other affiliated company" announced in the notice dated 4 April 2025 entitled "Notice Regarding the Capital and Business Alliance with SHIFT, Secondary Offering of Shares, and Changes in the Largest Major Shareholder and Other Affiliated Company" were completed on 24 April 2025, and SHIFT became an other affiliated company.」
Reconfirmed the completion of the changes in the major shareholder and other affiliated company arising from the transfer of shares from the fund shareholders to SHIFT. - FY2025MaterialisedAnnual report
「As a result of Sunrise Capital III,L.P., Sunrise Capital III(JPY),L.P. and Sunrise Capital III(Non-US),L.P., all shareholders of the Company, transferring part of their respective holdings of the Company's common shares to SHIFT through off-market negotiated transactions dated 24 April 2025, a change in major shareholders occurred.」
A fund shareholder actually transferred part of its holdings, and SHIFT became a major shareholder with a 32.49% stake. No impact on price or liquidity itself was described. - FY2024First statedAnnual report
「At the end of the current consolidated fiscal year, Sunrise Capital owned 34.9% of the Company's issued shares. Masamune Komuranaka (小中村政宗) and Kentaro Ogata (尾形健太郎) were dispatched as outside officers by Sunrise Capital Co., Ltd., which serves as an investment sub-adviser to the fund.」
The possibility that the fund's policy on holding or disposing of its shares could affect share liquidity and share price formation was described.