Oasis Management Company Ltd., the Cayman Islands-registered activist fund, told Japan's Financial Services Agency that its stake in Infomart Corporation (TSE: 2492) reached 10.94% as of August 7, 2026, up from 9.74% in its previous disclosure. The filing, the fund's fifth amendment on this position, was triggered because Oasis crossed the one-percentage-point threshold that forces an update under Japan's large shareholding rules.
The stake now stands at 29,253,200 shares against Infomart's 267,507,864 shares outstanding as of June 30, 2026. Oasis built the position through near-daily market purchases from June 24 through August 7, including five consecutive 800,000-share buys between August 3 and August 7, plus a 1,317,000-share off-market block trade on July 1 at ¥382 a share. The fund said the entire ¥13.48bn used to fund the position came from its own capital, not borrowed money.
Oasis says it has opened dialogue with Infomart's management on growth strategy, the use of AI and data, pricing strategy and product portfolio, with the stated goal of lifting the company's mid- to long-term corporate value and improving governance. Under that dialogue, the fund has already made proposals covering disposal of important company assets and discontinuation of part of the business. Those are live proposals, not hypothetical ones.
The filing goes further. Oasis reserved the right, within the next twelve months, to put forward a wider set of proposals spanning management control and the company's listing status.
| Proposal category | Status per filing |
|---|---|
| Disposal of important company assets | Already proposed |
| Discontinuation of part of the business | Already proposed |
| Selection or dismissal of the representative director | May propose within 12 months |
| Appointment of specific individuals as directors | May propose within 12 months |
| Major change to board composition | May propose within 12 months |
| Merger, share exchange or corporate split affecting the main business | May propose within 12 months |
| Transfer, acquisition, suspension or discontinuation of a business | May propose within 12 months |
| Delisting from the stock exchange | May propose within 12 months |
| A third party's acquisition of Infomart shares resulting in majority voting rights | May propose within 12 months |
Oasis also disclosed plans to keep buying: it wants to raise its Infomart holding by more than five percentage points through further market or off-market trades, but only if the share price looks undervalued and other conditions line up. The fund said the exact price, volume and timing remain under consideration, and that the next leg of buying may require a regulatory filing or approval. Oasis is targeting the three months from August 7, putting a rough marker around early November, though it flagged the buying could run later depending on price and approval conditions.