Five holders around Hyuga Primary Care now report 59.01% of the company together, up from 28.56% in the previous report, after joint holders were added to a large-shareholding change report filed on 2 October 2026. The obligation date was 25 September, when the holders signed agreements tied to a tender offer by JG44. The stated reasons include a change in holding purpose, the added joint holders and a rise of at least one percentage point.
A reporting change, not new buying
The report covers five holders, counted together.
| Holder | Shares | Share of total |
|---|---|---|
| Filer: medical-technology services company | 699,600 | 9.61% |
| Healthcare people-and-organisation matching firm | 500,400 | 6.87% |
| Hospital management-support company | 840,000 | 11.54% |
| Individual company officer at Hyuga Primary Care | 1,357,200 | 18.64% |
| Asset-management association with the same representative | 900,000 | 12.36% |
| Combined | 4,297,200 | 59.01% |
On the filing's own numbers, no holder's stake rose. The three filers' percentages slipped from 9.79%, 7.01% and 11.76%, while the two joint holders stayed at 18.64% and 12.36%. The 60-day acquisition and disposal tables are blank. The jump comes from counting the stakes together.
The agreed sequence
The first two filers, a medical-technology services company and a healthcare people-and-organisation matching firm, have agreed not to tender any shares into JG44's offer. If it succeeds, Hyuga Primary Care is to run a self-tender meant to equalise the combined holdings of the three filers with those of the two joint holders. In it, the first two filers would tender 133,780 shares (1.84%) and 191,569 shares (2.63%) and keep 565,820 (7.77%) and 308,831 (4.24%). The hospital-management-support filer would tender 321,579 shares (4.42%) and keep 518,421 (7.12%) under its own non-tender agreement.
If both offers succeed, a squeeze-out would leave JG44 and the five agreed shareholders as the only owners, with each filer agreeing to back the resolutions at a shareholders' meeting. A share exchange would follow, making JG44 the parent. A shareholders' agreement with the JGIA funds covers running the group and transfer restrictions. The report gives no tender price or timetable.