Oasis Management, a Cayman Islands-registered activist fund, has raised its stake in Infomart Corporation to 19.00% from 17.97%, according to a change report filed with the Kanto Local Finance Bureau on September 15. The increase of a little over one percentage point is what triggered the filing: Japan's large shareholding rules require a fresh disclosure whenever a reported stake moves by one percentage point or more. The fund now holds 50,837,700 shares of Infomart's 267,507,864 shares outstanding as of August 13.
| Metric | Value |
|---|---|
| Stake after filing | 19.00% |
| Stake before filing | 17.97% |
| Shares held | 50,837,700 |
| Shares outstanding (Aug 13, 2026) | 267,507,864 |
| Total acquisition funding | ¥27.18bn (fund resources) |
| Obligation date | September 8, 2026 |
| Filing date | September 15, 2026 |
The filing shows Oasis buying Infomart stock on almost every trading day between July 14 and September 8, with the pace accelerating through early September: 3,000,400 shares on September 2, 1,673,500 shares on September 7, and 1,098,100 shares on September 8. Separately, the filing states total funding behind Oasis's reported stake at ¥27.18bn, all from fund resources with none borrowed.
The filing's substance is in what Oasis says it wants next. The fund has already made proposals to Infomart's management covering disposal of important assets, election of specific board candidates, changes to board composition, and discontinuation of part of the business. Over the next 12 months, Oasis says it plans to go further still: proposals on dismissing or replacing representative directors, mergers or share exchanges, transferring or discontinuing business units, a third party taking majority voting control, and delisting Infomart from the Tokyo Stock Exchange. Oasis frames the campaign as dialogue meant to improve Infomart's governance and what it calls medium to long term corporate value, citing growth strategy, use of AI and data, pricing, and product portfolio as topics under discussion.
Oasis also disclosed plans to keep buying. It intends to lift its stake by more than five percentage points through market and off-market trades once Infomart's share price looks undervalued to the fund, and it expects to act within three months of the September 8 trigger date, though it left open the possibility of moving later depending on price and any regulatory approvals required. The filing lists a Tokyo law office, based in Chiyoda Ward's Marunouchi district, as Oasis's contact for correspondence.
The filing does not name a board nominee, put a value on any asset or business unit Oasis wants sold, or set a date for delisting beyond keeping that option open for a year.