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Large Shareholding Report: Japan

Japan's large shareholding system requires notification when an investor's holding reaches 5 per cent of a listed company. The system is enforced by the Financial Instruments and Exchange Law and administered through EDINET.

Who must file

Persons acquiring 5 per cent or more of a listed company's shares

Threshold

5 per cent of outstanding shares

Deadline

within five days from the date on which the holder becomes a large-volume holder, Sundays and other holidays specified by Cabinet Order excluded (Financial Instruments and Exchange Act, Article 27-23(1)); a change of one per cent or more is reported within five days after the day of the change (Article 27-25(1))

What the filing contains

Shareholding percentage, holding method, details of change if any

Where to find them

EDINET, the FSA's electronic disclosure system; large shareholding reports (大量保有報告書) are searched there, not on JPX

How Prior Moves uses them

Japanese large shareholding reports power the Japan board and supply data for regional analysis

Sources

Back to regulatory regimes