Four large-shareholding change reports filed on 16 October for Fast Retailing (9983) redraw how the chairman's family holding vehicles are grouped for disclosure. Each uses 9 October as the trigger date and lists the same prior joint ratio of 38.25%. None of the reports gives a reason for the regrouping beyond the filing category of a change in joint holders.
Four groups, four ratios
The reports describe overlapping groups, so their ratios cannot be added together.
| Filer | Holders in group | Group ratio | Prior ratio |
|---|---|---|---|
| MASTERMIND | 3 | 9.01% | 38.25% |
| TY Asset Management | 5 | 27.30% | 38.25% |
| Chairman's wife | 2 | 6.67% | 38.25% |
| Fight & Step | 4 | 12.28% | 38.25% |
In the TY Asset Management report, Fast Retailing's chairman and president reports 12.28%, down from 14.15%. TTY Management B.V. holds 5.01%. In the report filed by the chairman's wife, the individual ratios of 2.19% for her and 4.48% for Fight & Step are unchanged.
What actually moved
On 9 October, TY Asset Management took 3,180,000 shares (1.00%) from the chairman by contribution in kind. Its report also lists a 636,000-share (0.20%) off-market purchase at ¥71,780 a share and borrowings of ¥45.65bn, ¥22.83bn each from the chairman's two sons.
The second son's report and the eldest son's report each list a 318,000-share (0.10%) off-market disposal at ¥71,780 on the same day, taking each to 4.41% from 4.51%. The reports do not name counterparties. The chairman's report also lists five on-market disposals between 12 and 18 August, of 63,600 to 85,600 shares each.
Each filer states that it holds the shares long term for management stability.