日本語
Companies now230filings in the past 2 years
Bought afterwards (2021–22 test)1 in 518 of 98 companies
vs all listed2.0xall listed: 1 in 11

Who holds how many

Number of listed companies where each activist filed a large-shareholding report (5% or more) or a change report in the past two years.

Oasis44
Murakami group (City Index Eleventh etc.)33
Dalton / NAVF31
AVI20
Effissimo18
Strategic Capital15
Kaname Capital11
Valex Partners10
3D Investment Partners10
Ichigo10
Ariake Capital9
ValueAct8
Freesia Macross6
Taiyo Pacific6
Hibiki Path5
Misaki Capital5
Elliott2
Farallon1
Athanase1

Are the activists in profit?

Each report states how much money went into the shares held. Dividing it by the number of shares gives an estimated average cost, which we compare with today's price.

Stakes with a known cost161of 245 stakes
In profit / at a loss147 / 14stakes, at today's price
Median gain+28%price vs estimated cost

Gain or loss at today’s price

−50% or worse1
−50 to −20%2
−20 to 0%11
0 to +20%48
+20 to +50%49
+50 to +100%23
+100% or more27

Estimated cost = total acquisition funds ÷ shares held, from the latest report (or the previous one if the latest does not state the funds). Trades after the report's base date are not included. Stakes whose reports give no funding figure are left out. Share splits after the report are adjusted using the change in shares outstanding. Costs outside the stock's price range while held (0.8x the monthly low to 1.2x the high) are treated as reporting quirks (e.g. funds not updated after selling) and not shown. Stakes cut below 5% (mostly sold) are left out of the totals.

Underwater for a year or more

4 stakes are 10% or more below the estimated cost and have been held for a year or more (largest losses first). An activist in this position cannot simply sell at a profit, and may press harder for buybacks, a sale of the company or a buyout. Whether this actually leads to a takeover has not been tested.

  1. Synchro Food Co.,Ltd.AVIest. cost ¥550 → now ¥323 (-41%), held 1.5 yrs, stake 27.7%
  2. Aoyama Zaisan Networks Company,LimitedAVIest. cost ¥1,629 → now ¥1,382 (-15%), held 2.3 yrs, stake 5.1%
  3. GungHo Online Entertainment,Inc.Strategic Capitalest. cost ¥2,868 → now ¥2,485 (-13%), held 2.0 yrs, stake 13.7%
  4. ORO Co.,Ltd.Valex Partnersest. cost ¥2,171 → now ¥1,905 (-12%), held 2.6 yrs, stake 7.7%

All 245 stakes

CompanyActivistStakeEst. cost → nowGainHeldLatest filingScore
M3, Inc.2413・ServicesOasis8.5%¥1,647 → ¥1,781+8%0.1 yrs25 Sep 20263.3x
KH Neochem Co., Ltd.4189・ChemicalsStrategic Capital18.2%¥2,706 → ¥3,300+22%0.6 yrs25 Sep 20261.6x
en Inc.4849・ServicesOasis14.5%¥1,543 → ¥1,750+13%1.5 yrs24 Sep 20261.9x
Aoyama Zaisan Networks Company,Limited8929・Real estateAVI5.1%¥1,629 → ¥1,382-15%2.3 yrs24 Sep 20261.9x
Wacom Co., Ltd.6727・Electrical equipmentAVI19.2%¥758 → ¥892+18%4.9 yrs24 Sep 20261.8x
SHIBAURA MACHINE CO., LTD.6104・MachineryOasis9.0%¥3,773 → ¥4,775+27%1.1 yrs24 Sep 20261.2x
Infomart Corporation2492・ServicesOasis20.1%¥544 → ¥712+31%0.2 yrs18 Sep 20263.0x
Foster Electric Company, Limited6794・Electrical equipmentAVI8.2%¥2,802 → ¥3,265+17%0.7 yrs17 Sep 20262.0x
SMS CO., LTD.2175・ServicesOasis27.0%¥1,849 → ¥2,636+43%0.7 yrs16 Sep 20262.9x
KUSURI NO AOKI HOLDINGS CO., LTD.3549・RetailOasis16.1%¥3,162 → ¥3,828+21%3.4 yrs16 Sep 20262.5x
NIDEC CORPORATION6594・Electrical equipmentOasis8.0%¥2,278 → ¥2,340+3%0.6 yrs16 Sep 20261.4x
LIFENET INSURANCE COMPANY7157・InsuranceAriake Capital8.4%¥1,459 → ¥1,435-2%2.3 yrs14 Sep 20262.4x
Tokyo Kiraboshi Financial Group, Inc.7173・BanksAriake Capital9.0%¥1,531 → ¥1,778+16%0.3 yrs14 Sep 20261.0x
MEDIKIT CO.,LTD.7749・Precision instrumentsValex Partners14.5%¥2,552 → ¥2,859+12%2.7 yrs11 Sep 20264.0x
YAMADA HOLDINGS CO., LTD.9831・RetailMurakami group (City Index Eleventh etc.)8.4%¥644 → ¥714+11%0.2 yrs10 Sep 20261.6x
NICHIREI CORPORATION2871・FoodsOasis8.4%¥1,936 → ¥2,216+14%0.3 yrs10 Sep 20261.3x
J.FRONT RETAILING Co.,Ltd.3086・Retail3D Investment Partners11.6%¥2,411 → ¥2,684+11%0.3 yrs10 Sep 20261.3x
KOBAYASHI PHARMACEUTICAL CO.,LTD.4967・ChemicalsOasis14.4%¥5,472 → ¥6,920+26%2.2 yrs9 Sep 20261.7x
Yasuda Logistics Corporation9324・WarehousingDalton / NAVF5.2%¥2,047 → ¥2,785+36%0.1 yrs9 Sep 20261.4x
SANYO SHOKAI LTD.8011・TextilesAVI7.7%¥1,238 → ¥1,355+9%0.8 yrs7 Sep 20261.6x
AIGAN CO.,LTD.9854・RetailAVI6.0%¥250 → ¥270+8%0.3 yrs4 Sep 20261.9x
Plus Alpha Consulting Co.,LTD.4071・ServicesOasis0.0% (under 5%)——0.4 yrs4 Sep 20261.8x
ORO Co.,Ltd.3983・IT & telecomsValex Partners7.7%¥2,171 → ¥1,905-12%2.6 yrs4 Sep 20261.7x
A&D HOLON Holdings Company, Limited7745・Precision instrumentsStrategic Capital16.7%¥2,506 → ¥2,959+18%0.6 yrs3 Sep 20261.5x
EXEDY Corporation7278・Transport equipmentMurakami group (City Index Eleventh etc.)9.1%¥4,857 → ¥5,940+22%2.3 yrs28 Aug 20261.4x
WAKAMOTO PHARMACEUTICAL CO.,LTD.4512・PharmaceuticalsAVI11.6%¥302 → ¥297-2%1.6 yrs27 Aug 20262.0x
GungHo Online Entertainment,Inc.3765・IT & telecomsStrategic Capital13.7%¥2,868 → ¥2,485-13%2.0 yrs27 Aug 20262.0x
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD.7952・Other productsHibiki Path7.2%——0.3 yrs26 Aug 20261.7x
COMSYS Holdings Corporation1721・ConstructionOasis7.4%¥3,400 → ¥5,515+62%0.6 yrs26 Aug 20261.2x
Syuppin Co., Ltd.3179・RetailValex Partners14.6%¥1,141 → ¥1,334+17%1.2 yrs25 Aug 20262.0x
Sanken Electric Co., Ltd.6707・Electrical equipmentEffissimo34.4%¥4,798 → ¥6,942+45%≥5.0 yrs25 Aug 20261.8x
KANTO DENKA KOGYO CO., LTD.4047・ChemicalsEffissimo19.8%¥967 → ¥2,325+140%≥5.0 yrs24 Aug 20261.6x
UACJ Corporation5741・Non-ferrous metalsEffissimo24.3%¥810 → ¥2,201+172%4.9 yrs24 Aug 20261.6x
NORITZ CORPORATION5943・Metal productsDalton / NAVF11.7%¥1,958 → ¥2,226+14%2.1 yrs24 Aug 20261.3x
AUCNET INC.3964・IT & telecomsValex Partners8.0%¥374 → ¥1,346+260%4.9 yrs21 Aug 20263.8x
YAGI & CO.,LTD.7460・WholesaleHibiki Path7.2%¥827 → ¥1,657+100%0.3 yrs21 Aug 20261.4x
EBARA JITSUGYO CO.,LTD.6328・MachineryDalton / NAVF11.7%¥1,239 → ¥2,401+94%4.5 yrs20 Aug 20261.8x
AIN HOLDINGS INC.9627・RetailOasis22.2%¥5,304 → ¥5,412+2%2.6 yrs20 Aug 20261.6x
SANYO DENKI CO., LTD.6516・Electrical equipmentStrategic Capital12.2%¥3,081 → ¥5,490+78%2.1 yrs19 Aug 20262.1x
Nippon Chemical Industrial Co.,Ltd.4092・ChemicalsMurakami group (City Index Eleventh etc.)4.9% (under 5%)——0.2 yrs18 Aug 20261.5x
DENTSU SOKEN INC.4812・IT & telecomsOasis5.0%¥1,910 → ¥2,863+50%0.1 yrs17 Aug 20266.0x
IWAKI CO.,LTD.6237・MachineryDalton / NAVF5.0% (under 5%)——4.3 yrs17 Aug 20262.7x
NASU DENKI-TEKKO CO.,LTD.5922・Metal productsDalton / NAVF12.7%¥11,860 → ¥19,970+68%2.4 yrs17 Aug 20261.6x
Taki Chemical Co.,Ltd.4025・ChemicalsAVI6.1%¥4,796 → ¥5,750+20%0.2 yrs17 Aug 20261.4x
ValueCommerce Co., Ltd.2491・ServicesKaname Capital9.7%——0.4 yrs17 Aug 20261.4x
CASIO COMPUTER CO.,LTD.6952・Electrical equipment3D Investment Partners4.0% (under 5%)——0.5 yrs13 Aug 20261.3x
Japan Display Inc.6740・Electrical equipmentIchigo87.6%¥22 → ¥49+121%≥5.0 yrs13 Aug 20260.8x
AEON Financial Service Co., Ltd.8570・Other financingOasis10.8%¥1,207 → ¥1,612+34%0.8 yrs12 Aug 20264.3x
MEISEI INDUSTRIAL Co.,Ltd.1976・ConstructionDalton / NAVF13.6%¥1,276 → ¥1,742+37%2.6 yrs12 Aug 20261.5x
Tokuyama Corporation4043・ChemicalsOasis5.0%¥2,864 → ¥4,104+43%0.1 yrs12 Aug 20261.2x
Sansan, Inc.4443・IT & telecomsIchigo13.7%¥1,335 → ¥2,053+54%0.4 yrs10 Aug 20263.1x
DTS CORPORATION9682・IT & telecomsAVI6.4%——4.8 yrs10 Aug 20261.6x
YELLOW HAT LTD.9882・WholesaleStrategic Capital12.7%¥1,268 → ¥1,716+35%2.2 yrs7 Aug 20262.1x
Mitsubishi Paper Mills Limited3864・Pulp & paperMurakami group (City Index Eleventh etc.)6.1%¥1,007 → ¥1,235+23%0.2 yrs5 Aug 20263.2x
Prestige International Inc.4290・ServicesValex Partners4.1% (under 5%)——2.5 yrs3 Aug 20262.9x
AIRMAN CORPORATION6364・MachineryValex Partners13.0%¥1,215 → ¥2,535+109%3.8 yrs3 Aug 20261.8x
Keihanshin Building Co., Ltd.8818・Real estateStrategic Capital9.2%¥793 → ¥1,079+36%2.6 yrs3 Aug 20261.8x
JAPAN PURE CHEMICAL CO., LTD.4973・ChemicalsHibiki Path5.0%——≥5.0 yrs29 Jul 20261.6x
NIKKON Holdings Co.,Ltd.9072・Land transportOasis17.7%¥3,751 → ¥5,100+36%0.6 yrs29 Jul 20261.4x
FUJIKURA COMPOSITES Inc.5121・RubberHibiki Path11.8%¥1,445 → ¥2,986+107%0.7 yrs27 Jul 20261.6x
NIPPN CORPORATION2001・FoodsStrategic Capital7.1%¥2,723 → ¥2,926+7%0.3 yrs27 Jul 20261.3x
STELLA CHEMIFA CORPORATION4109・ChemicalsDalton / NAVF19.1%¥3,231 → ¥5,370+66%4.0 yrs24 Jul 20261.9x
EIKEN CHEMICAL CO.,LTD.4549・PharmaceuticalsDalton / NAVF31.0%¥2,004 → ¥2,352+17%2.8 yrs24 Jul 20261.7x
Bunka Shutter Co., Ltd.5930・Metal productsDalton / NAVF19.0%¥1,544 → ¥1,920+24%2.9 yrs24 Jul 20261.5x
INES Corporation9742・IT & telecomsAVI9.0%¥1,957 → ¥2,263+16%0.8 yrs23 Jul 20262.9x
Nippon Paper Industries Co., Ltd.3863・Pulp & paperMurakami group (City Index Eleventh etc.)9.8%¥1,289 → ¥1,330+3%0.4 yrs23 Jul 20261.2x
INTAGE HOLDINGS Inc.4326・IT & telecomsDalton / NAVF5.0%¥1,616 → ¥2,009+24%≥5.0 yrs22 Jul 20265.1x
FUJI KYUKO CO., LTD.9010・Land transportDalton / NAVF6.0%¥2,316 → ¥2,638+14%0.3 yrs22 Jul 20262.0x
KURABO INDUSTRIES LTD.3106・TextilesAVI4.6% (under 5%)——1.4 yrs21 Jul 20261.4x
DeNA Co., Ltd.2432・ServicesMurakami group (City Index Eleventh etc.)3.8% (under 5%)——0.9 yrs15 Jul 20262.0x
MACNICA HOLDINGS, INC.3132・WholesaleDalton / NAVF9.2%¥1,767 → ¥4,224+139%3.8 yrs15 Jul 20261.7x
TOSEI CORPORATION8923・Real estateDalton / NAVF6.1%¥1,034 → ¥1,765+71%2.3 yrs13 Jul 20261.9x
SEIBU HOLDINGS INC.9024・Land transport3D Investment Partners13.9%¥2,486 → ¥3,616+45%2.4 yrs9 Jul 20261.9x
GOLDCREST Co.,Ltd.8871・Real estateStrategic Capital16.3%¥2,476 → ¥3,210+30%3.1 yrs7 Jul 20264.4x
Keikyu Corporation9006・Land transportMurakami group (City Index Eleventh etc.)9.1%¥1,441 → ¥1,550+8%1.6 yrs6 Jul 20261.5x
TOREX SEMICONDUCTOR LTD.6616・Electrical equipmentKaname Capital11.2%¥2,016 → ¥1,953-3%3.1 yrs3 Jul 20262.2x
Money Forward, Inc.3994・IT & telecomsValueAct17.9%¥3,887 → ¥6,020+55%1.2 yrs3 Jul 20261.5x
THE PACK CORPORATION3950・Pulp & paperDalton / NAVF10.1%¥1,242 → ¥1,441+16%0.9 yrs2 Jul 20261.9x
SENKO Group Holdings Co., Ltd.9069・Land transportDalton / NAVF12.7%¥1,778 → ¥2,372+33%1.3 yrs2 Jul 20261.3x
Internet Initiative Japan Inc.3774・IT & telecomsOasis9.1%¥2,700 → ¥3,441+27%0.4 yrs1 Jul 20261.8x
Monex Group, Inc.8698・SecuritiesOasis5.1%¥510 → ¥723+42%4.6 yrs30 Jun 20262.3x
TEIKOKU CORPORATION6333・MachineryValex Partners18.4%——2.7 yrs25 Jun 20261.5x
Ferrotec Corporation6890・Electrical equipmentOasis6.6%¥3,034 → ¥10,300+239%0.8 yrs25 Jun 20261.3x
KADOKAWA CORPORATION9468・IT & telecomsOasis15.2%¥3,084 → ¥3,660+19%0.5 yrs23 Jun 20261.7x
RAKUS Co., Ltd.3923・IT & telecomsIchigo9.8%——0.3 yrs22 Jun 20261.9x
AIR WATER INC.4088・ChemicalsOasis6.0%¥2,262 → ¥2,818+25%0.3 yrs22 Jun 20261.7x
Sekisui Jushi Corporation4212・ChemicalsDalton / NAVF9.2%¥2,391 → ¥2,934+23%2.4 yrs19 Jun 20261.6x
TSURUMI MANUFACTURING CO.,LTD.6351・MachineryDalton / NAVF13.7%¥931 → ¥2,627+182%2.7 yrs18 Jun 20261.7x
INES Corporation9742・IT & telecomsEffissimo15.8%¥1,610 → ¥2,263+41%3.1 yrs17 Jun 20262.9x
THE KINKI SHARYO CO.,LTD.7122・Transport equipmentOasis7.0%¥2,145 → ¥2,470+15%0.3 yrs17 Jun 20261.8x
RICOH COMPANY,LTD.7752・Electrical equipmentEffissimo24.8%¥1,248 → ¥1,662+33%2.5 yrs15 Jun 20261.4x
MITSUI MATSUSHIMA HOLDINGS CO., LTD.1518・Other productsMurakami group (City Index Eleventh etc.)14.0%¥974 → ¥2,263+132%2.4 yrs12 Jun 20261.9x
NORITAKE CO., LIMITED5331・Glass & ceramicsStrategic Capital4.4% (under 5%)——1.2 yrs11 Jun 20261.5x
CAWACHI LIMITED2664・RetailKaname Capital5.0%¥2,961 → ¥3,760+27%0.3 yrs10 Jun 20261.7x
Kawasaki Kisen Kaisha, Ltd.9107・ShippingEffissimo35.8%——≥5.0 yrs9 Jun 20261.4x
Orient Corporation8585・Other financingStrategic Capital12.8%¥931 → ¥843-9%1.2 yrs8 Jun 20261.7x
ALPS ALPINE CO., LTD.6770・Electrical equipmentMurakami group (City Index Eleventh etc.)8.7%¥1,228 → ¥2,185+78%3.7 yrs4 Jun 20261.1x
Datasection Inc.3905・IT & telecomsOasis9.8%¥5,143 → ¥2,052-60%0.3 yrs2 Jun 20263.5x
KONICA MINOLTA, INC.4902・Electrical equipmentEffissimo10.6%¥458 → ¥664+45%1.9 yrs2 Jun 20261.3x
DAIHO CORPORATION1822・ConstructionMurakami group (City Index Eleventh etc.)8.6%¥735 → ¥826+12%≥5.0 yrs28 May 20264.7x
Sanwa Holdings Corporation5929・Metal productsValueAct7.5%¥2,423 → ¥3,523+45%2.0 yrs28 May 20261.2x
AIR WATER INC.4088・ChemicalsMurakami group (City Index Eleventh etc.)6.9%¥1,999 → ¥2,818+41%0.4 yrs22 May 20261.7x
Synchro Food Co.,Ltd.3963・IT & telecomsAVI27.7%¥550 → ¥323-41%1.5 yrs22 May 20262.1x
ICOM INCORPORATED6820・Electrical equipmentKaname Capital5.0%——0.4 yrs22 May 20261.7x
Pasona Group Inc.2168・ServicesOasis0.2% (under 5%)——2.2 yrs21 May 20262.4x
KPP GROUP HOLDINGS CO., LTD.9274・WholesaleMurakami group (City Index Eleventh etc.)5.0%¥895 → ¥1,159+30%0.4 yrs21 May 20262.0x
NIPPON EXPRESS HOLDINGS, INC.9147・Land transportElliott6.0%¥3,460 → ¥5,769+67%0.4 yrs20 May 20261.2x
Kao Corporation4452・ChemicalsOasis12.6%¥3,087 → ¥3,497+13%1.8 yrs20 May 20261.2x
CHIYODA CO., LTD.8185・RetailIchigo19.2%——0.4 yrs19 May 20261.9x
NIKKI CO.,LTD.6042・Transport equipmentIchigo21.7%——0.4 yrs19 May 20261.7x
CHIYODA INTEGRE CO.,LTD.6915・Electrical equipmentIchigo30.5%¥2,499 → ¥3,575+43%0.4 yrs19 May 20261.5x
TIS Inc.3626・IT & telecomsIchigo12.3%——4.7 yrs19 May 20261.3x
HASEKO Corporation1808・ConstructionIchigo18.1%——0.4 yrs19 May 20261.2x
Open House Group Co., Ltd.3288・Real estateIchigo13.3%¥3,385 → ¥7,600+125%4.0 yrs19 May 20261.2x
NISSAN TOKYO SALES HOLDINGS CO.,LTD.8291・RetailDalton / NAVF7.6%¥514 → ¥561+9%1.5 yrs18 May 20263.4x
Rengo Co., Ltd.3941・Pulp & paperMurakami group (City Index Eleventh etc.)6.1%¥1,032 → ¥1,522+47%0.7 yrs14 May 20261.2x
TOKYO STEEL MANUFACTURING CO.,LTD.5423・SteelOasis8.6%¥1,627 → ¥1,693+4%0.5 yrs13 May 20263.1x
SUNCORPORATION6736・Electrical equipmentOasis18.4%——2.5 yrs13 May 20262.6x
Calbee, Inc.2229・FoodsOasis7.1%¥2,908 → ¥3,036+4%1.0 yrs13 May 20262.3x
eGuarantee,Inc.8771・Other financingAriake Capital10.3%¥1,502 → ¥1,780+19%1.0 yrs13 May 20262.2x
DIC Corporation4631・ChemicalsOasis11.6%¥2,545 → ¥4,804+89%2.8 yrs13 May 20261.7x
KOKUYO CO., LTD.7984・Other productsOasis10.5%¥699 → ¥891+27%1.9 yrs13 May 20261.7x
Aichi Financial Group, Inc.7389・BanksAriake Capital10.9%¥787 → ¥2,141+172%1.0 yrs13 May 20261.3x
HORIBA, Ltd.6856・Electrical equipmentOasis9.9%¥11,880 → ¥23,785+100%0.8 yrs13 May 20261.3x
THE SHIGA BANK,LTD.8366・BanksAriake Capital6.5%¥827 → ¥3,055+269%1.5 yrs13 May 20261.2x
Senshu Ikeda Holdings, Inc.8714・BanksAriake Capital10.8%¥543 → ¥1,145+111%1.4 yrs13 May 20261.2x
The Ogaki Kyoritsu Bank, Ltd.8361・BanksAriake Capital8.6%¥4,769 → ¥8,840+85%0.8 yrs13 May 20261.1x
The Hyakugo Bank, Ltd.8368・BanksAriake Capital5.9%¥928 → ¥2,625+183%0.7 yrs13 May 20261.0x
ICHIKOH INDUSTRIES, LTD.7244・Electrical equipmentOasis5.4%¥549 → ¥571+4%0.4 yrs12 May 20261.4x
Kanadevia Corporation7004・MachineryOasis5.4%¥1,020 → ¥1,175+15%0.4 yrs12 May 20261.3x
TAKARA HOLDINGS INC.2531・FoodsValueAct19.0%¥1,183 → ¥2,618+121%1.1 yrs12 May 20261.3x
KYB Corporation7242・Transport equipmentOasis5.6%¥2,824 → ¥4,720+67%0.4 yrs11 May 20261.6x
DKK Co., Ltd.6706・Electrical equipmentOasis12.9%¥2,818 → ¥3,370+20%≥5.0 yrs11 May 20261.4x
SUNCORPORATION6736・Electrical equipmentValueAct12.1%¥6,359 → ¥9,790+54%1.0 yrs8 May 20262.6x
Sanken Electric Co., Ltd.6707・Electrical equipmentOasis2.8% (under 5%)——3.9 yrs1 May 20261.8x
SEPTENI HOLDINGS CO., LTD.4293・ServicesOasis6.8%¥452 → ¥507+12%2.8 yrs1 May 20265.4x
NEOJAPAN Inc.3921・IT & telecomsKaname Capital5.1%¥1,715 → ¥1,676-2%0.4 yrs1 May 20263.5x
Kumagai Gumi Co.,Ltd.1861・ConstructionOasis1.5% (under 5%)——3.3 yrs1 May 20262.0x
TEIJIN LIMITED3401・TextilesEffissimo19.3%¥1,394 → ¥1,690+21%2.2 yrs21 Apr 20261.6x
YODOKO,Ltd.5451・SteelStrategic Capital5.6%¥854 → ¥1,433+68%3.0 yrs16 Apr 20261.3x
FUJI MEDIA HOLDINGS, INC.4676・IT & telecomsMurakami group (City Index Eleventh etc.)4.6% (under 5%)——1.5 yrs15 Apr 20261.6x
LIFENET INSURANCE COMPANY7157・InsuranceEffissimo21.1%¥894 → ¥1,435+61%≥5.0 yrs13 Apr 20262.4x
MURAKAMI CORPORATION7292・Transport equipmentDalton / NAVF8.1%¥3,778 → ¥6,880+82%2.3 yrs8 Apr 20261.9x
Helios Techno Holding Co.,Ltd.6927・Electrical equipmentDalton / NAVF28.7%¥884 → ¥998+13%2.3 yrs8 Apr 20261.7x
Teikoku Tsushin Kogyo Co., Ltd.6763・Electrical equipmentDalton / NAVF8.7%¥2,001 → ¥2,804+40%2.8 yrs8 Apr 20261.7x
ASKA Pharmaceutical Holdings Co., Ltd.4886・PharmaceuticalsDalton / NAVF21.3%¥1,995 → ¥2,125+7%2.8 yrs8 Apr 20261.6x
TEIKOKU SEN-I Co.,Ltd.3302・TextilesDalton / NAVF10.5%¥2,196 → ¥3,125+42%2.6 yrs8 Apr 20261.4x
MEIKO TRANS CO.,LTD.9357・WarehousingDalton / NAVF5.5%——2.8 yrs8 Apr 20261.3x
TAIYO HOLDINGS CO., LTD.4626・ChemicalsOasis14.9%¥2,200 → ¥4,782+117%1.6 yrs7 Apr 20262.4x
Tamron Co.,Ltd.7740・Precision instrumentsEffissimo17.4%¥507 → ¥1,354+167%4.8 yrs7 Apr 20262.1x
Yamatane Corporation9305・WholesaleKaname Capital3.7% (under 5%)——2.2 yrs7 Apr 20261.8x
Fujibo Holdings, Inc.3104・TextilesEffissimo19.7%¥1,549 → ¥3,330+115%≥5.0 yrs6 Apr 20261.4x
KeePer Technical Laboratory Co.,Ltd.6036・ServicesMisaki Capital4.0% (under 5%)——1.0 yrs3 Apr 20262.8x
NIKKON Holdings Co.,Ltd.9072・Land transportFarallon23.0%¥2,521 → ¥5,100+102%1.7 yrs2 Apr 20261.4x
TAMAI STEAMSHIP CO., LTD.9127・ShippingHibiki Path1.5% (under 5%)——1.0 yrs31 Mar 20262.3x
Hokuetsu Corporation3865・Pulp & paperOasis4.8% (under 5%)——4.9 yrs30 Mar 20261.9x
ASIRO Inc.7378・ServicesAVI35.2%¥1,591 → ¥1,588-0%0.8 yrs26 Mar 20262.2x
LAPINE CO.,LTD.8143・TextilesFreesia Macross34.6%¥254 → ¥157-38%0.5 yrs18 Mar 20262.4x
SAXA, Inc.6675・Electrical equipmentAVI7.4%¥2,054 → ¥2,175+6%0.6 yrs16 Mar 20262.0x
Mercuria Holdings Co., Ltd.7347・SecuritiesValex Partners0.0% (under 5%)——4.5 yrs16 Mar 20262.0x
MAX CO., LTD.6454・MachineryValueAct7.3%¥1,185 → ¥1,881+59%0.6 yrs12 Mar 20261.3x
KYOWA ENGINEERING CONSULTANTS Co., Ltd.9647・ServicesFreesia Macross48.8%¥3,225 → ¥6,590+104%4.2 yrs6 Mar 20261.6x
Takashimaya Company, Limited8233・RetailMurakami group (City Index Eleventh etc.)3.3% (under 5%)——1.0 yrs5 Mar 20261.5x
BUFFALO INC.6676・Electrical equipmentEffissimo9.3%——4.9 yrs4 Mar 20263.1x
SQUARE ENIX HOLDINGS CO.,LTD.9684・IT & telecoms3D Investment Partners18.5%¥2,756 → ¥2,950+7%1.4 yrs3 Mar 20261.7x
Daiichi Life Group, Inc.8750・InsuranceEffissimo11.0%¥431 → ¥1,944+351%4.8 yrs27 Feb 20261.0x
CASIO COMPUTER CO.,LTD.6952・Electrical equipmentOasis0.0% (under 5%)——1.2 yrs26 Feb 20261.3x
OSAKA STEEL CO., LTD.5449・SteelEffissimo6.2%¥2,372 → ¥2,601+10%≥5.0 yrs26 Feb 20265.8x
HEIWA REAL ESTATE CO.,LTD.8803・Real estateMurakami group (City Index Eleventh etc.)8.3%¥2,604 → ¥2,359-9%2.2 yrs26 Feb 20262.6x
Oriental Shiraishi Corporation1786・ConstructionEffissimo11.8%——≥5.0 yrs26 Feb 20262.2x
Fudo Tetra Corporation1813・ConstructionEffissimo27.3%¥2,007 → ¥3,055+52%≥5.0 yrs26 Feb 20261.6x
NIKKEN KOGAKU CO., LTD.9767・ServicesFreesia Macross19.5%¥1,609 → ¥1,725+7%4.0 yrs17 Feb 20262.5x
Anicom Holdings, Inc.8715・InsuranceDalton / NAVF14.8%¥811 → ¥1,034+28%1.2 yrs16 Feb 20261.6x
FUJI MEDIA HOLDINGS, INC.4676・IT & telecomsDalton / NAVF1.6% (under 5%)——2.8 yrs13 Feb 20261.6x
Solekia Limited9867・WholesaleFreesia Macross52.1%¥4,921 → ¥10,590+115%3.7 yrs12 Feb 20261.6x
Niterra Co., Ltd.5334・Glass & ceramicsValueAct5.3%¥5,700 → ¥7,658+34%0.6 yrs12 Feb 20261.2x
OSAKA STEEL CO., LTD.5449・SteelStrategic Capital12.4%¥2,381 → ¥2,601+9%2.8 yrs6 Feb 20265.8x
DAIHATSU INFINEARTH MFG.CO.,LTD.6023・Transport equipmentKaname Capital12.0%¥1,050 → ¥3,305+215%3.0 yrs6 Feb 20262.3x
Japan Pulp & Paper Co., Ltd.8032・WholesaleMurakami group (City Index Eleventh etc.)5.1%¥742 → ¥1,277+72%0.6 yrs6 Feb 20261.6x
Ferrotec Corporation6890・Electrical equipmentMurakami group (City Index Eleventh etc.)4.4% (under 5%)——1.5 yrs3 Feb 20261.3x
RINNAI CORPORATION5947・Metal productsDalton / NAVF6.3%¥2,844 → ¥3,437+21%3.0 yrs30 Jan 20261.4x
EBARA CORPORATION6361・MachineryIchigo4.8% (under 5%)——1.2 yrs21 Jan 20261.3x
ATSUGI CO., LTD.3529・TextilesAVI28.5%¥979 → ¥1,134+16%2.1 yrs20 Jan 20262.0x
Pacific Metals Co., Ltd.5541・SteelEffissimo2.1% (under 5%)——≥5.0 yrs22 Dec 20251.4x
EIKEN CHEMICAL CO.,LTD.4549・PharmaceuticalsAVI7.8%¥1,959 → ¥2,352+20%2.6 yrs3 Dec 20251.7x
TOA ROAD CORPORATION1882・ConstructionStrategic Capital4.0% (under 5%)——3.3 yrs3 Dec 20251.4x
Maxell, Ltd.6810・Electrical equipmentTaiyo Pacific0.0% (under 5%)——4.7 yrs27 Nov 20251.5x
NITTOKU CO., LTD.6145・MachineryMurakami group (City Index Eleventh etc.)4.4% (under 5%)——2.1 yrs25 Nov 20251.6x
YOROZU CORPORATION7294・Transport equipmentMurakami group (City Index Eleventh etc.)0.0% (under 5%)——3.1 yrs20 Nov 20251.6x
Stanley Electric Co.,Ltd.6923・Electrical equipmentMurakami group (City Index Eleventh etc.)5.0% (under 5%)——1.5 yrs20 Nov 20251.6x
MegaChips Corporation6875・Electrical equipmentMurakami group (City Index Eleventh etc.)4.9% (under 5%)——1.0 yrs19 Nov 20251.6x
Nippon Fine Chemical Co., Ltd.4362・ChemicalsDalton / NAVF3.8% (under 5%)——2.9 yrs14 Nov 20252.2x
INTER ACTION Corporation7725・Precision instrumentsKaname Capital12.6%¥1,223 → ¥1,771+45%1.4 yrs21 Oct 20252.4x
Digital Garage, Inc.4819・IT & telecomsOasis0.0% (under 5%)——4.7 yrs30 Sep 20253.4x
Vertex Corporation5290・Glass & ceramicsValex Partners12.2%¥541 → ¥1,261+133%3.9 yrs29 Sep 20251.9x
Trend Micro Incorporated4704・IT & telecomsValueAct3.7% (under 5%)——4.1 yrs29 Sep 20251.5x
IRISO ELECTRONICS CO., LTD.6908・Electrical equipmentMurakami group (City Index Eleventh etc.)3.9% (under 5%)——2.1 yrs22 Sep 20251.8x
Ai Holdings Corporation3076・WholesaleDalton / NAVF6.0%¥2,067 → ¥2,986+44%4.8 yrs19 Sep 20251.5x
Wacom Co., Ltd.6727・Electrical equipmentKaname Capital5.1%¥654 → ¥892+36%1.0 yrs16 Sep 20251.8x
MITSUI-SOKO HOLDINGS Co., Ltd.9302・Warehousing3D Investment Partners11.2%¥2,735 → ¥3,331+22%1.4 yrs12 Sep 20251.6x
RACCOON HOLDINGS, Inc.3031・WholesaleTaiyo Pacific0.0% (under 5%)——4.8 yrs11 Sep 20251.7x
TBK Co., Ltd.7277・Transport equipmentAthanase6.3%¥307 → ¥333+8%2.9 yrs5 Sep 20252.2x
Wakita & Co.,LTD.8125・WholesaleStrategic Capital4.7% (under 5%)——4.5 yrs29 Aug 20251.7x
TOHO HOLDINGS CO.,LTD.8129・Wholesale3D Investment Partners21.2%¥4,013 → ¥4,013-0%2.3 yrs27 Aug 20251.3x
Nihon Tokushu Toryo Co., Ltd.4619・ChemicalsMurakami group (City Index Eleventh etc.)4.0% (under 5%)——1.5 yrs25 Aug 20252.0x
Suruga Bank Ltd.8358・BanksAriake Capital4.5% (under 5%)——3.3 yrs22 Aug 20251.7x
Ezaki Glico Co., Ltd.2206・FoodsDalton / NAVF10.3%¥4,225 → ¥5,020+19%2.2 yrs22 Aug 20251.4x
ULVAC,Inc.6728・Electrical equipmentTaiyo Pacific4.0% (under 5%)——4.7 yrs22 Aug 20251.2x
Daito Pharmaceutical Co.,Ltd.4577・PharmaceuticalsKaname Capital11.1%——2.7 yrs12 Aug 20251.8x
KONISHI CO., LTD.4956・ChemicalsAVI0.0% (under 5%)——3.7 yrs5 Aug 20251.5x
TSI HOLDINGS CO.,LTD.3608・TextilesAVI0.3% (under 5%)——3.6 yrs31 Jul 20251.6x
Helios Techno Holding Co.,Ltd.6927・Electrical equipmentAVI3.8% (under 5%)——1.5 yrs26 Jun 20251.7x
Nxera Pharma Co., Ltd.4565・PharmaceuticalsTaiyo Pacific4.8% (under 5%)——4.7 yrs25 Jun 20252.1x
Pacific Metals Co., Ltd.5541・SteelMurakami group (City Index Eleventh etc.)0.0% (under 5%)——4.9 yrs23 Jun 20251.4x
KUREHA CORPORATION4023・ChemicalsMurakami group (City Index Eleventh etc.)1.8% (under 5%)——3.0 yrs11 Jun 20251.5x
ID Holdings Corporation4709・IT & telecomsKaname Capital7.0%——3.0 yrs9 Jun 20252.0x
TSUKAMOTO CORPORATION CO., LTD.8025・WholesaleFreesia Macross17.3%¥1,204 → ¥1,322+10%4.2 yrs30 May 20251.6x
JEOL Ltd.6951・Electrical equipmentMisaki Capital4.7% (under 5%)——2.1 yrs28 May 20251.4x
TSUKISHIMA HOLDINGS CO., LTD.6332・MachineryMurakami group (City Index Eleventh etc.)4.1% (under 5%)——1.5 yrs28 May 20251.4x
Sakai Moving Service Co.,Ltd.9039・Land transportMisaki Capital4.4% (under 5%)——4.1 yrs23 May 20253.3x
AICHI STEEL CORPORATION5482・SteelMurakami group (City Index Eleventh etc.)0.6% (under 5%)——2.0 yrs23 May 20252.5x
Nissha Co., Ltd.7915・Other productsTaiyo Pacific4.2% (under 5%)——4.9 yrs21 May 20251.8x
NIHON KOHDEN CORPORATION6849・Electrical equipmentValueAct3.9% (under 5%)——2.8 yrs21 May 20251.3x
Milbon Co.,Ltd.4919・ChemicalsMisaki Capital4.1% (under 5%)——2.0 yrs7 May 20251.8x
PIOLAX,INC.5988・Metal productsMurakami group (City Index Eleventh etc.)0.0% (under 5%)——2.1 yrs14 Apr 20252.8x
TOKYO GAS CO.,LTD.9531・UtilitiesElliott4.9% (under 5%)——1.9 yrs14 Apr 20251.1x
Kurashicom Inc.7110・RetailValex Partners9.6%¥1,423 → ¥1,897+33%2.7 yrs11 Apr 20251.8x
Oji Holdings Corporation3861・Pulp & paperMurakami group (City Index Eleventh etc.)4.9% (under 5%)——1.7 yrs8 Apr 20251.1x
FURUKAWA CO., LTD.5715・Non-ferrous metalsMurakami group (City Index Eleventh etc.)3.9% (under 5%)——1.7 yrs20 Feb 20251.5x
ARAYA INDUSTRIAL CO., LTD.7305・SteelAVI3.2% (under 5%)——2.1 yrs19 Feb 20251.5x
NS Solutions Corporation2327・IT & telecoms3D Investment Partners9.4%¥3,125 → ¥3,860+24%2.1 yrs14 Feb 20255.8x
PeptiDream Inc.4587・PharmaceuticalsTaiyo Pacific3.9% (under 5%)——4.3 yrs6 Feb 20252.1x
SAPPORO HOLDINGS LIMITED2501・Foods3D Investment Partners19.4%¥1,020 → ¥1,792+76%2.9 yrs23 Jan 20251.7x
Giken Holdings Co.,Ltd.1443・ConstructionFreesia Macross51.6%——4.0 yrs17 Jan 20252.5x
TAIYO HOLDINGS CO., LTD.4626・ChemicalsMisaki Capital4.2% (under 5%)——4.8 yrs16 Jan 20252.4x
JADE GROUP, Inc.3558・RetailAVI4.8% (under 5%)——4.7 yrs10 Jan 20252.0x
KYOKUTO KAIHATSU KOGYO CO., LTD.7226・Transport equipmentStrategic Capital5.0% (under 5%)——4.9 yrs9 Dec 20241.4x
KAKEN PHARMACEUTICAL CO., LTD.4521・PharmaceuticalsMurakami group (City Index Eleventh etc.)5.0% (under 5%)——2.3 yrs26 Nov 20241.3x
TOHOKUSHINSHA FILM CORPORATION2329・IT & telecoms3D Investment Partners17.4%¥307 → ¥496+61%3.5 yrs14 Nov 20242.9x
SEIREN CO.,LTD.3569・TextilesOasis0.7% (under 5%)——2.1 yrs14 Nov 20241.4x
WACOAL HOLDINGS CORP.3591・Textiles3D Investment Partners10.8%¥3,770 → ¥3,908+4%2.3 yrs14 Nov 20241.3x
Mercari, Inc.4385・IT & telecomsOasis5.4%¥2,006 → ¥3,661+82%1.9 yrs13 Nov 20241.6x
Techno Smart Corp.6246・MachineryEffissimo6.6%——4.8 yrs7 Nov 20241.8x
ISHIHARA CHEMICAL CO.,LTD.4462・ChemicalsDalton / NAVF1.3% (under 5%)——3.0 yrs7 Oct 20241.6x
Restar Corporation3156・WholesaleMurakami group (City Index Eleventh etc.)0.2% (under 5%)——4.9 yrs4 Oct 20242.5x

Held: years since the first report in this site's data (from September 2021); '≥' marks stakes that may go back further. 'Under 5%' means the latest report shows the stake cut below 5% (mostly sold). Score: the overall model score relative to the average listed company.

Who counts as an activist here

Murakami group (City Index Eleventh etc.), Effissimo, Strategic Capital, Oasis, Dalton / NAVF, 3D Investment Partners, Elliott, ValueAct, AVI, Kaname Capital, Hibiki Path, Ariake Capital, Misaki Capital, Farallon, Taiyo Pacific, RMB Capital, Valex Partners, Freesia Macross, Ichigo, Athanase

Chosen by the operator: investors that have publicly made shareholder proposals or demands of Japanese companies. Matched on the filer names in large-shareholding reports.

Updated 29 Sep 2026 00:48 JST