Oasis Management Company Ltd., a Cayman Islands company, has raised its stake in Ain Holdings Inc. (TSE: 9627) to 20.93% of shares outstanding, up from 19.80% in its previous report. The amended large-shareholding report, filed with the Kanto Local Finance Bureau on August 14 and dated to an August 6 reporting obligation, shows Oasis now holds 7,415,243 shares against Ain Holdings' 35,428,212 shares outstanding as of July 29.
| Metric | Value |
|---|---|
| Previous holding ratio | 19.80% |
| New holding ratio | 20.93% |
| Shares held | 7,415,243 |
| Total shares outstanding (as of July 29, 2026) | 35,428,212 |
| Funding for acquisitions (fund capital) | ¥38.98bn |
Oasis lists its purpose as "pure investment," the standard classification for portfolio holdings, but the filing does not stop there. It discloses that Oasis may seek to increase its holding ratio by more than five additional percentage points through market or off-market trades, contingent on the stock trading at a level Oasis considers undervalued and on other unspecified conditions. Price, quantity and timing remain, in the filing's own words, under continued consideration, and any move above the 5% threshold could require notification to or approval from regulators. Oasis targets completing such a move within three months of the reporting obligation date, though it flags that the timeline could slip.
The 60-day trading log behind the new stake shows open-market purchases on numerous dates between June 18 and August 6, ranging from 1,800 to 67,000 shares a session, with no disposals recorded. The pattern was not continuous: the filing shows a gap in purchases between June 26 and July 13 before buying resumed and intensified through late July and early August.
The total funding behind the position, ¥38.98bn, is classified in the filing as "other amount" sourced from fund capital, not self-funds or borrowed money. The report lists Oasis as the sole filer with no joint holders and declares no important proposal actions or material collateral contracts tied to the stake in this particular report. That leaves open, rather than settled, whether Oasis intends to press Ain Holdings' management on capital allocation or governance beyond passive accumulation.