Zappallas: Hikari Tsushin now largest shareholder with 62.89% stake

Zappallas Inc. announced on October 9, 2025, that Hikari Tsushin Inc. has become its new largest shareholder. This change occurred after Hikari Tsushin received a transfer of Zappallas shares from several of its subsidiaries, which previously held Zappallas stock. As a result, previous major shareholders, including Hikari Tsushin (as a non-largest shareholder) and SIEL Co., Ltd., are no longer listed as major shareholders.

Effective October 9, 2025, Hikari Tsushin's ownership increased to 56,342 voting rights (5,634,200 shares), representing 62.89% of Zappallas' total voting rights, making it the top shareholder. Previously, Hikari Tsushin held 17,293 voting rights (1,729,300 shares), equating to 19.30%, as of August 12, 2025. SIEL Co., Ltd. previously held 12,810 voting rights (1,281,000 shares), or 14.30%, as of August 12, 2025.

Additionally, Zappallas disclosed that it had previously omitted information regarding changes in major shareholders in announcements made on May 30, 2025, and April 1, 2025. These omissions pertained to other group company share transfers that did not alter the ultimate controlling parent company. The company stated that these share transfers are not expected to impact Zappallas' business performance or management structure.