Candidates ／ 9767
NIKKEN KOGAKU CO., LTD.9767・Services
Activist stake: Freesia Macross. Of the listed companies with this trait in 2021–22, 1 in 5 was bought in the following four years or so — against 1 in 11 for all listed companies.
Taking every trait together, its score is 2.5x the average — #209 of 3,751. The closest type of deal is strategic buyer.
Why it looks like past targets
- Activist stake: Freesia Macross1 in 5 such companies were bought (2.0x the average)
- Market value ¥3.1bn
Score by type of buyer
| Type | vs average for the type | |
|---|---|---|
| Buyout by the parent | 0.6x | |
| Management buyout | 2.9x | |
| Private equity | 4.0x | |
| Strategic buyer | 3.2x |
Ownership
Top 10 shareholders
| Holder | Type | Stake | |
|---|---|---|---|
| 技研ホールディングス株式会社 | Company | 16.8% | |
| 菊池 恵理香 | Individual | 6.1% | |
| 株式会社ナガワ | Company | 5.9% | |
| 光通信KK投資事業有限責任組合無限責任組合員光通信株式会社 | Company | 5.4% | |
| トリリオン投資事業有限責任組合無限責任組合員株式会社フエル | Company | 4.0% | |
| 株式会社日本カストディ銀行(信託口) | Custodian/nominee | 3.9% | |
| 日本国土開発株式会社 | Company | 3.3% | |
| 日本生命保険相互会社 | Financial institution | 3.1% | |
| 今井 正利 | Individual | 3.0% | |
| フリージア・マクロス株式会社 | Activist | 2.8% |
From the annual report for the year to 2026-03-31. Holder types are assigned by name and can be wrong (for example, a founder’s company can look like an operating company). Annual report (PDF, EDINET)
Key figures
- Controlling shareholder (over 50%)
- No
- Largest corporate holder
- 16.8%
- Founder family (individuals and their companies)
- 9.0%
- Officers
- 1.5%
- Net cash ÷ market value
- 105%
- ROE
- 5.9%
- Equity ratio
- 78%
Activist filings
- Freesia Macross 11 Oct 2022〜17 Feb 2026、3 filings Latest reports: 1 2 3est. cost ¥1,609 → now ¥1,725 (+7%), held 4.0 yrs, stake 19.5%
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.
This site ranks listed companies by how closely their public filings (annual reports and large-shareholding reports) resemble past tender-offer and MBO targets. It is not a prediction that any company will be bought, is not based on any non-public information, and is not a recommendation to buy or sell. Not investment advice.
Updated 29 Sep 2026 00:48 JST