Effissimo Capital Management Pte. Ltd. now reports holding 18.90% of Tamron, up from 18.54% in its previous report. Its large-shareholding change report, number 36, puts the position at 32,273,700 shares against 170,800,000 shares outstanding as of 19 October 2026.
What triggered the report
The stated reason for the filing is a change in material contracts such as collateral agreements. The reporting obligation arose on 19 October, and the report was filed on 21 October. Nearly all of the position, 32,272,900 shares, is held for client assets under discretionary investment advisory contracts. The filing lists the purpose as pure investment.
For the 60-day trading table, the report lists on-market purchases of 270,100, 383,000, 84,500 and 146,500 shares on 5, 6, 7 and 8 October. Earlier Tokyo Brief coverage
The conditional language on more buying
Effissimo says it has no specific plan to raise its holding ratio by more than 5 percentage points. It adds that it could do so through on-market or off-market trades, depending on Tamron's share price and liquidity, Tamron's management condition, and whether takeover proposals exist, including one from Sony, and the circumstances around them.
That is a statement of possibility. The report is not an offer from Sony, an agreed acquisition or a commitment by Effissimo to buy more, and it gives no terms for any transaction.
Pledges are not extra ownership
The collateral section describes how shares already counted in the position are encumbered. Under a pledge agreement, 17,541,600 of the discretionary-account shares are pledged to Goldman Sachs International. Separately, prime brokerage agreements give prime brokers security rights over custody assets, with covered share counts of 2,805,700 for Goldman Sachs International, 5,000,000 for Merrill Lynch International, 3,000,000 for Citigroup Global Markets Limited and 2,841,600 for J.P. Morgan Securities plc as of 19 October.
The filing does not say how these pledged blocks relate to one another.