Mitsubishi Corporation has cut its stake in Chiyoda Corporation, listed on the Tokyo Stock Exchange Standard market under securities code 6366, from 81.94% to 66.57%. The change followed an off-market disposal of 441,600,000 Class A preferred shares on June 30, 2026, at a unit price of ¥124.8, according to the amended large shareholding report Mitsubishi filed with the Kanto Local Finance Bureau on July 6.
| Metric | Value |
|---|---|
| Previous holding ratio (prior report) | 81.94% |
| New holding ratio (this report) | 66.57% |
| Class A preferred shares disposed | 441,600,000 |
| Disposal date | June 30, 2026 |
| Unit price | ¥124.8 |
| Approx. transaction value | ¥55.1bn |
| Remaining Class A preferred shares held | 193,800,000 |
| Initial conversion price | ¥100 per common share |
At that unit price, the disposed block represents a transaction of roughly ¥55.1bn, per the filing's own summary of the sale. Mitsubishi still holds 193,800,000 Class A preferred shares, which carry the right to convert into Chiyoda common stock at an initial conversion price of ¥100 per share.
The cover page lists this as Change Report No. 15 covering Mitsubishi's Chiyoda holding. Large shareholders must file an amended report whenever their position shifts by a set threshold, and Mitsubishi listed the trigger for this filing as its holding ratio falling by one percentage point or more. Mitsubishi's stated purpose for holding the shares is "improvement of the issuer's corporate value," the wording entered on the filing's purpose field.
A footnote in the filing explains how the 66.57% figure was calculated: following a 2026 revision to Japan's disclosure rules, Mitsubishi added the 193,800,000 shares its remaining preferred stake would convert into to both the numerator and the denominator of the ratio. Chiyoda's total outstanding shares stood at 324,924,529 as of the filing date, against Mitsubishi's combined position of 345,331,220 shares and share-equivalents. The filing is signed by Mitsubishi's representative director and president, Katsuya Nakanishi.