A real estate leasing company founded by a former representative director of AS ONE Corporation (TSE: 7476), together with its own representative director, a member of the founding family, told Japan's Kinki Local Finance Bureau this week that it has agreed to sell part of its stake back to the company. The filing, Change Report No. 62 under Article 27-25(1) of the Financial Instruments and Exchange Act, was submitted September 9, 2026, with a reporting obligation dated September 7.
The reason given is direct: a contract to tender shares into AS ONE's own-share tender offer has been concluded. The leasing company applied 2,500,000 shares on August 7, 2026; the tender offer was established on September 7; and settlement of the tendered shares is scheduled to begin October 6.
Because settlement has not yet occurred, the joint stake reported by the two filers is unchanged from the prior report: 9,477,564 shares, or 12.63% of AS ONE's 75,012,540 issued shares. The leasing company itself owns 7,566,292 shares (10.09%); its representative director, who describes herself as a member of AS ONE's founding family, holds a further 1,911,272 shares in her own name (2.55%).
| Holder | Shares | Ownership |
|---|---|---|
| Real estate leasing company (founded by AS ONE's former representative director) | 7,566,292 | 10.09% |
| Company's representative director (individual, founding-family member) | 1,911,272 | 2.55% |
| Combined stake of both filers | 9,477,564 | 12.63% |
The stake sits on debt. The leasing company financed its position with ¥2.007bn of its own funds, a ¥1.804bn loan from Resona Bank, and ¥600mn raised through a private placement bond, against a total historical acquisition cost of ¥4.411bn built up through decades of stock splits and prior share disposals. Under a separate securities-collateral agreement, it has also pledged shares to four banks: 1.6 million shares to Resona Bank, 480,000 to MUFG Bank, 800,000 to Sumitomo Mitsui Banking Corporation, and 2.1 million to Mizuho Bank. The individual co-filer reports no borrowings and ¥114mn of own funds, but the filing shows most of her 1,911,272 shares came through decades of stock splits and a 47,500-share gift from relatives received between 1999 and 2013, not through cash purchases.
She has her own side arrangements too: a securities lending agreement putting 1,768,600 shares with Mizuho Securities from July 1 to September 25, 2026, plus 120,000 shares pledged separately to Sumitomo Mitsui Banking Corporation. She also gave away 6,000 shares, an off-market disposal recorded as a gift, on July 14, 2026.
Both filers describe their purpose as stable, long-term shareholding. The leasing company frames itself as a vehicle founded by AS ONE's former representative director; only the individual filer identifies as a member of the founding family. The filing does not say what share of AS ONE the two filers will hold once the tendered 2.5 million shares actually settle in October; investors will have to wait for the next change report, or the settlement date itself, to see the number move.