ADR120S announces new major shareholder FTL Capital Management

ADR120S announced on October 22, 2025, a change in its major shareholders. FTL Capital Management Inc. has become a major shareholder, with its registered office in Minato Ward, Tokyo, and a capital of JPY 1,000,000. The company engages in investment, real estate, and consulting businesses.

FTL Capital Management Inc. now holds 9,864 voting rights (986,406 shares), representing 11.08% of the total voting rights. This positions them as the third-largest shareholder. Conversely, CIG Medical Investment Business Limited Partnership, previously a major shareholder, is no longer listed.

The percentage of voting rights is calculated based on the total outstanding shares of 8,929,419 as of September 30, 2025, excluding 34,819 non-voting shares. ADR120S does not anticipate any impact on its business performance from this change.