Fun&Creative Co., Ltd., the asset-management company the filing identifies as kubell founder Masaki Yamamoto’s long-term holding vehicle, still owns 20,530,400 kubell shares, or 48.14% of the company. Add Yamamoto’s personal 1,799,899 shares and the founder-linked block comes to 22,330,299 shares, or 52.37%. The corrected report says there are two joint holders and describes both positions as stable, long-term holdings.
What makes the correction worth reading is that the interesting part is not a dramatic trading spree. The report says Fun&Creative’s holding ratio was 48.58% in the previous report, while the joint holding ratio was 52.80%. In other words, the corporate vehicle is below 50% on its own, but the founder-related bloc still sits above that line when the two holders are viewed together.
The fresh wrinkle is on Yamamoto’s line. In the 60-day dealings table, the filing records an off-market acquisition of 18,248 shares on April 24 at a unit price of zero. Elsewhere, the same filing says Yamamoto acquired 18,248 common shares without charge as restricted stock compensation on that date, and it adds that those shares are subject to transfer restrictions until he steps down as a director. That combination means readers should not treat the move as a standard cash-market purchase, even though it changes the disclosed ownership totals.
The filing also hints at why these corrections matter beyond simple ownership tracking. The stated reason for the change report is an important change in contracts related to the shares, and the disclosure lays out pledge and collateral arrangements with Daiwa Securities, Nomura Securities and SMBC Nikko Securities, alongside restricted-stock limits. For investors, that makes the document a map of control and financing terms at the same time. A founder-linked stake above 52% matters, but so does how much of that block is wrapped in collateral or compensation rules.