Strategic Capital reduces stake in Toa Road Corporation

Toa Road Corporation announced on September 18, 2025, a change in its major shareholders, specifically concerning Strategic Capital. This alteration was confirmed through an amended large shareholding report filed by Strategic Capital with the Kanto Local Finance Bureau on September 17, 2025.

Prior to the change, as of September 4, 2025, Strategic Capital held 47,837 voting rights (4,783,700 shares), representing 10.40% of the total voting rights. Following the change, as of September 9, 2025, their holding decreased to 42,757 voting rights (4,275,700 shares), bringing their ownership percentage to 9.29% of the total voting rights. The company states that percentages are calculated based on 459,857 total voting rights as of March 31, 2025, after deducting 4,408,942 non-voting shares as of September 9, 2025.

Strategic Capital engages in Type II Financial Instruments Business, investment advisory, and investment management. Toa Road Corporation has not independently confirmed the actual number of shares held by Strategic Capital. No further material developments are expected.