EDINET 大量保有報告書 Digest
1. ノリタケ株式会社 (TSE: 5331)
- Holder
- 株式会社ストラテジックキャピタル (Strategic Capital)
- Holding
- 4.36% (-2.11%)
- Trajectory
- 6.47% → 5.22% → 4.36%
- Shares
- 2,447,900
- Obligation Date
- 2026-06-04
- Material Proposal
- Yes
- Purpose
- To conduct constructive engagement/dialogue with the issuer and to make material proposals to it in order to enhance shareholder value, together with pure investment. Material proposals: to achieve this purpose, the filer is making material proposals including — increased dividends (a shareholder-return policy of the higher of DOE 8% or a 100% payout ratio each year); a material change in capital policy (improving the capital structure through the use of interest-bearing debt and restraint of shareholders' equity); the sale of cross-shareholdings; the sale of leased and other real estate; and a review of the business portfolio (including improving profitability of, transferring, or discontinuing unprofitable businesses such as the tableware business).
- Notable
- joint holders: 1; watchlist: Japan-focused activist
- Source
- EDINET E01139 - S100Y904 (filed 2026-06-11 15:32)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y904,,
2. ＫＨネオケム株式会社 (TSE: 4189)
- Holder
- 株式会社ストラテジックキャピタル (Strategic Capital)
- Holding
- 17.08%
- Shares
- 6,344,600
- Obligation Date
- 2026-06-01
- Material Proposal
- Yes
- Purpose
- To conduct constructive engagement/dialogue with the issuer and to make material proposals to it in order to enhance shareholder value, together with pure investment. Material proposals: to achieve this purpose, the filer is making material proposals including a material change in capital policy (improving the capital structure through the use of interest-bearing debt and restraint of shareholders' equity) and the full or partial transfer, suspension, or discontinuation of a principal business (the basic-chemicals business).
- Notable
- joint holders: 1; watchlist: Japan-focused activist
- Source
- EDINET E32642 - S100Y8B2 (filed 2026-06-08 15:33)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8B2,,
3. ザ・パック株式会社 (TSE: 3950)
- Holder
- NIPPON ACTIVE VALUE FUND PLC (Nippon Active Value Fund)
- Holding
- 9.06%
- Shares
- 5,408,800
- Obligation Date
- 2026-06-02
- Material Proposal
- Yes
- Purpose
- The filer considers the issuer's share price to be undervalued and an attractive investment opportunity, and acquires and holds the issuer's shares for the long term. Depending on various circumstances — the issuer's financial condition, strategic decisions, board decisions, share-price levels, other investment opportunities, internal guidelines on portfolio concentration and diversification, stock-market conditions, and general economic and industry trends — the filer may additionally acquire the issuer's shares or related financial instruments, sell all or part of them, or take any other measure it deems appropriate. Furthermore, to raise the issuer's share price (which it regards as undervalued) and its shareholder value, the filer may seek constructive engagement/dialogue with the issuer, its officers and directors, and other shareholders regarding the issuer's corporate governance, board composition, management, business, financial condition, and strategy. In December 2025 the filer sent a letter to all of its investees including the issuer — proposing, in addition to advanced practice of management conscious of cost of capital and share price, the adoption of restricted-stock compensation and establishment of share-ownership guidelines, and securing board independence, that all management-strategy options including going private and spin-offs be examined without prejudice from the standpoint of corporate value and the common interests of shareholders — and published the letter on its website. It intends to continue engagement/dialogue with the issuer in line with that letter, and depending on how the engagement/dialogue develops may make further proposals on these matters.
- Notable
- joint holders: 3
- Source
- EDINET E00674 - S100Y8YM (filed 2026-06-09 15:32)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8YM,,
4. 富士急行株式会社 (TSE: 9010)
- Holder
- NIPPON ACTIVE VALUE FUND PLC (Nippon Active Value Fund)
- Holding
- 5.02%
- Shares
- 2,755,000
- Obligation Date
- 2026-06-02
- Material Proposal
- Yes
- Purpose
- The filer considers the issuer's share price to be undervalued and an attractive investment opportunity, and acquires and holds the issuer's shares for the long term. Depending on various circumstances — the issuer's financial condition, strategic decisions, board decisions, share-price levels, other investment opportunities, internal guidelines on portfolio concentration and diversification, stock-market conditions, and general economic and industry trends — the filer may additionally acquire the issuer's shares or related financial instruments, sell all or part of them, or take any other measure it deems appropriate. Furthermore, to raise the issuer's share price (which it regards as undervalued) and its shareholder value, the filer may seek constructive engagement/dialogue with the issuer, its officers and directors, and other shareholders regarding the issuer's corporate governance, board composition, management, business, financial condition, and strategy. The filer proposes to the issuer — in addition to advanced practice of management conscious of cost of capital and share price, the adoption of restricted-stock compensation and establishment of share-ownership guidelines, and securing board independence — that all management-strategy options including going private and spin-offs be examined without prejudice from the standpoint of corporate value and shareholders' common interests, and it intends to pursue engagement/dialogue with the issuer. Depending on how that engagement/dialogue develops, it may make further proposals on these matters.
- Notable
- joint holders: 3
- Source
- EDINET E04093 - S100Y8ZH (filed 2026-06-09 15:34)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8ZH,,
5. 那須電機鉄工株式会社 (TSE: 6591)
- Holder
- NIPPON ACTIVE VALUE FUND PLC (Nippon Active Value Fund)
- Holding
- 11.68%
- Shares
- 140,200
- Obligation Date
- 2026-06-03
- Material Proposal
- Yes
- Purpose
- The filer considers the issuer's share price to be undervalued and an attractive investment opportunity, and acquires and holds the issuer's shares for the long term. Depending on various circumstances — the issuer's financial condition, strategic decisions, board decisions, share-price levels, other investment opportunities, internal guidelines on portfolio concentration and diversification, stock-market conditions, and general economic and industry trends — the filer may additionally acquire the issuer's shares or related financial instruments, sell all or part of them, or take any other measure it deems appropriate. Furthermore, to raise the issuer's share price (which it regards as undervalued) and its shareholder value, the filer may seek constructive engagement/dialogue with the issuer, its officers and directors, and other shareholders regarding the issuer's corporate governance, board composition, management, business, financial condition, and strategy. In December 2025 the filer sent a letter to all of its investees including the issuer — proposing, in addition to advanced practice of management conscious of cost of capital and share price, the adoption of restricted-stock compensation and establishment of share-ownership guidelines, and securing board independence, that all management-strategy options including going private and spin-offs be examined without prejudice from the standpoint of corporate value and the common interests of shareholders — and published the letter on its website. It intends to continue engagement/dialogue with the issuer in line with that letter, and depending on how the engagement/dialogue develops may make further proposals on these matters.
- Notable
- joint holders: 3
- Source
- EDINET E01365 - S100Y9UC (filed 2026-06-11 15:06)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y9UC,,
6. ガンホー・オンライン・エンターテイメント株式会社 (TSE: 3765)
- Holder
- 株式会社ストラテジックキャピタル (Strategic Capital)
- Holding
- 10.51%
- Shares
- 7,267,500
- Obligation Date
- 2026-06-04
- Material Proposal
- Yes
- Purpose
- To conduct constructive engagement/dialogue with the issuer and to make material proposals to it in order to enhance shareholder value, together with pure investment. Material proposals: to achieve this purpose, the filer is making material proposals including a material change in capital policy (improving the capital structure through the use of interest-bearing debt and restraint of shareholders' equity), delisting (acquisition by a third party), increased dividends, and the buyback of treasury shares from specific shareholders (Taizo Son and shareholders the filer judges to be effectively controlled by him).
- Notable
- joint holders: 1; watchlist: Japan-focused activist
- Source
- EDINET E05474 - S100Y8YQ (filed 2026-06-11 15:33)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8YQ,,
7. ステラケミファ株式会社 (TSE: 4109)
- Holder
- NIPPON ACTIVE VALUE FUND PLC (Nippon Active Value Fund)
- Holding
- 21.58%
- Shares
- 2,800,100
- Obligation Date
- 2026-06-04
- Material Proposal
- Yes
- Purpose
- The filer considers the issuer's share price to be undervalued and an attractive investment opportunity, and acquires and holds the issuer's shares for the long term. Depending on various circumstances — the issuer's financial condition, strategic decisions, board decisions, share-price levels, other investment opportunities, internal guidelines on portfolio concentration and diversification, stock-market conditions, and general economic and industry trends — the filer may additionally acquire the issuer's shares or related financial instruments, sell all or part of them, or take any other measure it deems appropriate. Furthermore, to raise the issuer's share price (which it regards as undervalued) and its shareholder value, the filer may seek constructive engagement/dialogue with the issuer, its officers and directors, and other shareholders regarding the issuer's corporate governance, board composition, management, business, financial condition, and strategy. In December 2025 the filer sent a letter to all of its investees including the issuer — proposing, in addition to advanced practice of management conscious of cost of capital and share price, the adoption of restricted-stock compensation and establishment of share-ownership guidelines, and securing board independence, that all management-strategy options including going private and spin-offs be examined without prejudice from the standpoint of corporate value and the common interests of shareholders — and published the letter on its website. It intends to continue engagement/dialogue with the issuer in line with that letter, and depending on how the engagement/dialogue develops may make further proposals on these matters.
- Notable
- joint holders: 3
- Source
- EDINET E00805 - S100Y9MX (filed 2026-06-11 15:34)
- Link
- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y9MX,,