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Japan Capital and Governance (Page 11)

Share buybacks, offerings, activist stakes, shareholder votes and board changes at Japanese companies.

  1. Oasis Lifts SMS Stake to 22.38% and Puts Board Changes, Asset Sales and Delisting on the Table

    Oasis Management's stake in SMS CO.,LTD has climbed to 22.38%, and the fund says it has already proposed director changes, asset sales and a possible delisting, while keeping open the option to buy more than 5% more stock within three months if the price looks cheap.

  2. Osaka Titanium Prices Share Sale, Up to ¥19.9bn Earmarked for Plant Expansion

    Osaka Titanium priced its public offering at ¥2,592 a share, raising ¥17.4bn, below the ¥19.2bn estimate it published in August, and scrapped a fallback plan to use leftover cash for debt repayment, committing up to ¥19.9bn to sponge-titanium capacity growth at Amagasaki by March 2028; a same-day filing showing two asset managers lifting their combined stake to 14.61% is an unrelated passive-holding update.

  3. Nifco Buys Back ¥39.96bn of Stock in a Single Trade on Day One of Its Programme

    Nifco used an off-auction ToSTNeT-3 trade to buy back 7.54 million shares for ¥39.96bn on September 1, using nearly all the cash and share capacity under a buyback programme its board approved a day earlier.

  4. Nippon Paper's ¥63.6bn Lintec Share Sale Leans on a Buyback and an Overseas Tranche

    Nippon Paper priced the sale of a large Lintec stake at ¥63.6bn after Lintec's ¥30bn ToSTNeT-3 buyback trimmed the block, and underwriters routed just over five million shares to European and Asian buyers, with settlement due September 8.

  5. Correction Shows Blackwell Cloud's Quantum Solutions Stake Came From a Direct Share Deal, Not Market Trades

    A filing correction to Japan's large-shareholding rules shows Hong Kong-based Blackwell Cloud's August 2026 purchase of Quantum Solutions shares and warrants was a company-arranged third-party allotment, not the open-market trade originally reported.

  6. eBASE Splits Its Unchanged ¥15.20 Dividend Into Two Payouts

    Osaka software maker eBASE will pay ¥7.60 a share to holders on record September 30, introducing its first interim dividend since listing even though the annual total stays flat.

  7. Marubeni Buys Back ¥14bn of Stock in First Month of ¥100bn Program

    The trading house repurchased 2.85 million shares in four weeks after its board approved a ¥100bn buyback, leaving most of the authorization unspent with seven months left before it expires.

  8. Mitsui & Co. Buys Back ¥11.25bn in Stock as New Program's First Month

    The trading house spent ¥11.25bn repurchasing 2.28mn shares in August, a small down payment against a ¥200bn buyback ceiling the board approved just days earlier.

  9. Sumitomo Forestry Signs Two-Tranche Hybrid Loan to Refinance Tri Pointe Buyout Debt

    Sumitomo Forestry signed a ¥69bn and ¥37.5bn subordinated syndicated loan, maturing in 2062 and 2064, to repay borrowings from its completed Tri Pointe Homes acquisition, with R&I and JCR expected to treat half the raised amount as equity.

  10. UT Group Founder Moves His 19.46% Stake Into a Company He Also Controls, Financed by a Loan From Himself

    UT Group's founder is transferring 135.5mn shares to his own asset-management LLC at ¥182 apiece, paid for largely with a ¥24.66bn loan he is making to that LLC, leaving his camp's combined 36.95% stake unchanged.

  11. Three Insurers Sell Down 3.5mn Shares in Central Automotive Products

    Three financial-institution shareholders, two non-life insurers and a life insurer, are selling 3,548,600 shares of the auto-chemicals maker as Japan's cross-shareholding unwind continues, with a same-day buyback meant to cushion the supply.

  12. Toyo Tire's ¥156.8bn-Cap Buyback Ends Mitsubishi Corp's Eight-Year Stake

    A ToSTNeT-3 buyback capped at ¥156.8bn let Mitsubishi Corp tender its full 20% Toyo Tire stake and move to end the 2018 alliance that came with it, all disclosed through a correction to an already-filed interim report.

  13. Evo Fund's Bitcoin Japan Stake Slips to 49.54% as Warrant Overhang Persists

    A Cayman Islands fund sold shares on the Tokyo market through August, but the warrants and convertible bonds it still holds could substantially enlarge Bitcoin Japan's outstanding share count if exercised.

  14. Geniee to Retire 3.75 Million Preferred Shares Held by Mizuho Bank

    Geniee will pay Mizuho Bank ¥1.71bn to retire 3.75 million Class A preferred shares, cutting its preferred count to 6.25 million and easing dividend obligations from October 15, 2026.

  15. Kobe Shimbun Cuts Capital 83% and Merges Print Plants as Circulation Sinks Below 300,000

    Kobe Shimbun's half-year filing pairs an 83% capital cut, made for capital-policy flexibility, that also ends its exposure to Japan's size-based business tax, with a three-to-two print plant merger, a sub-300,000 morning circulation figure and digital revenue that fell below 90% of last year's level as generative AI cut into web traffic.

  16. DKK Raises Shareholder-Return Budget, Targets 8% ROE to Fix a Stock Stuck Below Book Value

    DKK Co., Ltd. admits its stock has traded below book value for five straight years and is now targeting an ROE above its own cost of equity while lifting its three-year shareholder-return budget from ¥2.0bn to ¥2.5bn.

  17. Activist Investor Tells GungHo: Remove Representative Director or Chairman, or Find a Buyer

    Strategic Capital, holding 13.67% of GungHo Online Entertainment, says it will demand the removal of either the company's representative director or its chairman if the game maker stays listed instead of delisting through a takeover.

  18. Yamaha Books a ¥24.9bn Gain on Its Yamaha Motor Stake Sale, but IFRS Erases Most of It

    Yamaha Corporation sold 14 million Yamaha Motor shares for a ¥24.9bn standalone gain, but fair-value accounting keeps nearly all of that profit out of consolidated earnings, leaving its stake at 1.46% of issued shares.

  19. SAAF Holdings Wins Poison Pill Vote by Excluding the Votes It's Aimed At

    SAAF Holdings shareholders approved a warrant-based takeover defense by 71.54%, but only after the company's independent committee stripped 63,044 votes tied to the targeted shareholder group from the count.

  20. Sumitomo Chemical Prices ¥40bn Two-Tranche Bond to Swap Short-Term Debt for Long-Term Debt

    Investors priced the chemical maker's two-year notes at 2.048% and its five-year notes at 2.659%, with every yen of the proceeds earmarked to retire commercial paper due by the end of September.

  21. JR West sells ¥89.6bn in bonds, sends the biggest slice to new trains

    West Japan Railway's ¥52.4bn sustainability tranche funds new commuter and shinkansen rolling stock, while the shorter two bonds simply roll over maturing debt.

  22. Terra Drone's 2-for-1 Stock Split Still Leaves Shares Pricier Than Tokyo Wants

    The drone and airspace-management group will cut its investment unit to about ¥850,000 on October 1, but that is still well above the Tokyo Stock Exchange's own preference for retail-friendly pricing under ¥500,000.

  23. Yamaha Sells Down Its Yamaha Motor Stake, Keeps the Brand-Sharing Machinery Running

    Yamaha Corporation is selling 14 million Yamaha Motor shares in a block trade, cutting its holding from 2.84% to 1.46% for asset-efficiency reasons, while the joint brand-oversight committee between the two companies stays in place.

  24. Gunma Bank sets September 30 record date for merger vote with Daishi Hokuetsu

    Gunma Bank's board set September 30 as the record date for a December 23 shareholder vote on its share-exchange integration with Daishi Hokuetsu Financial Group, with venue and full resolution details still pending.

Japan Capital and Governance (Page 11) | Tokyo Brief