Shofu, the Kyoto-based dental materials maker listed on the Tokyo Stock Exchange's Prime market under code 7979, told TDnet on July 16 that it completed a fresh sale of listed shares held as cross-shareholdings, booking a ¥832mn gain in July. The sale follows one flagged on July 9 and, combined with a ¥1.12bn gain already recognized by June, lifts Shofu's cumulative gain on investment-securities sales for the year to March 2027 to ¥1.96bn.
| Period | Gain on sale |
|---|---|
| By June 2026 (Q1) | ¥1.12bn |
| July 2026 | ¥832mn |
| Cumulative, year to March 2027 | ¥1.96bn |
Shofu said the sales unwind policy-held shares under Japan's Corporate Governance Code, which pushes listed companies to justify holding other firms' stock for reasons beyond pure investment return.
The company will book the gains as extraordinary income for the year to March 2027: the ¥1.12bn already recognized landed in the first quarter, and the new ¥832mn falls in the second quarter. Shofu said its current earnings guidance already factors in part of that income and is unchanged for now, adding it will update the forecast promptly if a revision becomes necessary.
The filing does not name which shares Shofu sold, their issuers, or how much of its cross-shareholding portfolio remains, so it is not yet possible to gauge how far this unwinding still has to run.