Peak XV Partners Investments IV has reduced its holding in Appier Group, the Tokyo-listed software company (ticker 4180), to 6.79% from 9.81%. A large shareholding change report, filed on 20 October with the Director-General of the Kanto Local Finance Bureau, puts the trigger date at 13 October 2026.
What was sold
The report records one disposal in the last 60 days: 3,000,000 common shares on 13 October, an off-market transaction. It lists the sale at 2.92% of Appier's shares and a unit price of 1,346.60. After the sale the filer holds 6,975,370 shares against 102,762,619 shares outstanding as of 13 October.
Under Japan's large-shareholding rules, a holder above 5% must file a report on its stake and a change report when the holding moves by 1 percentage point or more. This is change report No. 3, and the stated reason is a fall of at least 1 percentage point in the holding ratio, together with a change to a material contract.
The lock-up
The material contract is a lock-up. From 13 October to 1 November 2026, Peak XV Partners Investments IV has agreed not to sell Appier shares without the prior written consent of J.P. Morgan Securities plc. The report does not name the buyer of the 3mn shares or give a reason for the sale.
Holding history
The filer is a Mauritius-incorporated investment company, set up in December 2013, and it describes its holding purpose as pure investment. It reports no significant proposal-type actions toward the company. The report traces the position to 1 February 2021, when it acquired 15,496,820 common shares through an in-kind dividend. It then lists four disposals: 907,700 shares in the 30 March 2021 offering tied to Appier's listing, 813,750 by transfer on 27 September 2021, 3,800,000 in an offering on 4 October 2021, and the 3,000,000 sold on 13 October 2026.
The filing was prepared by a lawyer at DLA Piper Tokyo Partnership acting as attorney-in-fact. The power of attorney, signed on 15 October 2026 by director Satyadeo Bissessur, covers EDINET registration and large-holding reports.