Dalton Investments, Inc. holds 2,060,500 shares of Premium Group Co., Ltd., or 5.05% of the 40,762,864 shares outstanding on 21 October 2026, according to a large shareholding report filed on 28 October. The report lists Dalton as the only filer, with no joint holders.
What Dalton says it wants
Dalton states that it believes Premium Group's share price is undervalued and that it is holding the shares for the long term. It reserves the right to buy more, sell all or part, or take other steps it considers appropriate. That is Dalton's own opinion, and the report does not show Premium Group agreeing with it.
The report says Dalton plans to propose that Premium Group:
- practise management that is more attentive to capital cost and share price;
- introduce restricted-stock compensation and share ownership guidelines;
- secure board independence;
- examine all management strategy options without prejudgment, including going private and spin-offs, from the standpoint of corporate value and shareholders' common interests.
Dalton adds that it may make further proposals depending on how its dialogue with the company goes. The references to going private and spin-offs describe the scope of a review Dalton wants. They do not announce a transaction, and the report records no response from Premium Group.
How the stake was built
The report's 60-day table lists purchases from 2 September to 21 October. Almost all were on market; one 30,000-share purchase on 11 September was off market at a unit price of 2,023.64 yen. The largest single-day buys were 135,000 shares (0.33%) on 24 September and 2 October.
Dalton lists acquisition funds of ¥4.36bn, classed as customers' funds, with no borrowing and no collateral or other material contracts. The form shows no prior holding ratio.