Convano Inc. has taken majority control of Axel Mark Inc., the Tokyo Stock Exchange Growth Market company trading under ticker 3624. On July 2, 2026, Convano acquired 45,000,000 Axel Mark shares off-market through a third-party allotment. That purchase lifted Convano's holding to 68.90% of Axel Mark's 65,313,200 shares outstanding.
The price and the funding
Convano paid ¥20 per share, for a total outlay of ¥900mn. The filing records the full amount as coming from Convano's own funds, with zero borrowing and no other funding source declared.
| Metric | Value |
|---|---|
| Shares acquired | 45,000,000 |
| Price per share | ¥20 |
| Total funding | ¥900mn |
| Resulting stake | 68.90% |
| Axel Mark shares outstanding | 65,313,200 |
| Funding source | Convano's own funds, no borrowing |
The stated purpose
Convano describes the purchase as being for a capital alliance with Axel Mark, aimed at promoting Axel Mark's healthcare business, raising its corporate value, and holding the stake over the medium to long term. The filing does not go further than that stated purpose.
A correction, not a new deal
The document Tokyo Brief is reading is itself an amendment. Convano filed the corrected version with the Kanto Local Finance Bureau on July 7, 2026, five days after its original report, saying that part of the earlier filing's content contained an error requiring correction under Article 27-25(4) of the Financial Instruments and Exchange Act. Axel Mark continues to trade on the Tokyo Stock Exchange's Growth Market, now with just over two-thirds of its stock in the hands of a single outside holder.