Mitsubishi UFJ Trust and Banking Corp.'s retirement benefit trust account for Daido Steel (TYO:5471) is no longer the largest major shareholder of NHK Spring (TYO:5991).
The trust sold 2.06 million shares of NHK Spring, reducing its voting rights to 9.99% from 11.00%, according to a Tokyo bourse filing on Tuesday. The June 25 sale dropped the trust below the 10% threshold that defines major shareholder status under financial regulations.
Although the trust had previously ranked second among shareholders, the top position belonged to Master Trust Bank, which is exempt from major shareholder classification.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments