TKP said Riverfield Co., Ltd., a controlling shareholder that is not the parent company, held 60.79% of its voting rights as of Feb. 28. The holding breaks down into 55.63% directly owned and 5.16% in combined holdings, according to the company's disclosure.
A holding above 60% means one shareholder accounts for a clear majority of votes at shareholder meetings. TKP said it had no transactions with the controlling shareholder to report at the time of the disclosure. For minority investors, the more useful line was the company's explanation of what should happen if such dealings do arise.
TKP said any transaction with the controlling shareholder would be reviewed and decided by the board after considering the content, terms and reasonableness of the deal. It said the basic policy is to handle those transactions on the same basis as dealings with other third parties, and to seek opinions from outside specialists such as lawyers and accounting auditors when needed to help protect minority shareholders.
Two caveats matter. The ownership figure is a snapshot as of late February, not a permanent condition. And the minority-protection language is the company's own description of its governance process, not an external assessment.