株式会社キャピタルギャラリー
A Japan-based investor known for involvement in M&A situations as a major shareholder.
"Companies tracked" and "first seen" reflect activity within our coverage period (from 2025-02-09 onward) and do not represent this investor's total number of historical holdings in the Japanese market.
This commentary is AI-generated from filing data and news articles (web search). It may contain hallucinations or factual errors, so please verify the content against primary sources yourself. It is not intended as investment advice.
The two sample purpose statements differ notably in tone and content. For ティムコ (Timco), the stated reason is purely mechanical/administrative: "単体株式保有割合が１％以上変動（減少）したため" ("because the individual shareholding ratio changed [decreased] by 1% or more") — a threshold-triggered disclosure with no stated investment thesis. For ヨータイ (Yotai), the filing explicitly characterizes the holding as "純投資" (pure investment), noting that Capital Gallery itself holds for pure investment purposes, while an affiliated entity, Capital Management, holds as the executing partner of the "Challenge No.2" and "Challenge No.3" investment partnerships, also stated as pure investment. Taken at face value, the filed purpose language across both holdings is passive/administrative in wording. Recent press coverage, however, indicates that Capital Gallery submitted shareholder proposals to Yotai concerning shareholder returns in both 2022 and 2024, with the 2024 proposal reportedly withdrawn after Yotai unveiled a new mid-term plan that lifted its share price; reporting describes roughly four years of dialogue with management dating to 2020. This suggests engagement activity beyond what the "純投資" label alone would imply, though the filed purpose text itself does not describe such proposal activity.
Coverage is limited to two tickers spanning two distinct sectors — 卸売業 (wholesale trade, 1 company) and ガラス・土石製品 (glass and stone products, 1 company). With only one company per sector, there is no evidence of sector concentration; the sample is too small to characterize this filer as either sector-focused or broadly diversified with confidence.
Peak ownership ratios across the two tickers show a median of 11.70%, with a wide range of 0.57%–22.82% (n=2). This spread suggests meaningfully different stake-building patterns between the two holdings — one apparently reaching a substantial double-digit level, the other peaking at a level below the 5% disclosure threshold on an individual basis. Note that Japan's large shareholding disclosure regime is triggered once a holder's stake exceeds 5%; where filings are made jointly with co-holders, an individual filer's reported ratio may understate the full joint group's aggregate position, which appears relevant here given a related amendment filing by another party referencing Capital Gallery.
Of the two tracked positions, none remain classified as "still above 5% (trackable, ongoing)," so no elapsed-day data is available for that category. One position is recorded as having fallen to 5% or below, with a median of 480 days elapsed since that transition. Under Japan's disclosure regime, once a stake falls to 5% or below, the filer's disclosure obligation terminates and the position becomes fundamentally unobservable — not just by this platform but by any external party relying on these filings. Accordingly, the 480-day figure marks time since the position became untrackable, not a holding period, and does not indicate that the position was fully exited; the filer may retain a smaller stake. No definitive average holding period can be stated from this data.
Of the two positions, one fell to 5% or below (untrackable) and none show confirmed full divestment (0%) via an amendment report; consequently no peak-ratio-before-exit figure is available for confirmed divestments. Given the structure of Japan's disclosure regime, falling to 5% or below functions as the de facto observable exit signal in practice, while explicit confirmation of full divestment to 0% is comparatively rare — and in this filer's case, absent entirely from the sample. Separately, press coverage notes a 2025 opinion statement referencing a 7.64% holding in Yotai; this figure comes from external reporting rather than the structured position-status data above and should not be read as reconciling the two. Sample size (n=1–2) is small in all categories, limiting the reliability of any exit-pattern characterization. This commentary reflects only activity captured within this platform's data collection period and does not represent Capital Gallery's complete historical investment record in the Japanese market. It does not constitute a definitive assessment of the filer's intent or any individual investment judgment.
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Based on EDINET submission dates. Dates reflect when the filing was submitted, not when the underlying trade or shareholder proposal actually occurred.
When multiple filers are included in the same joint filing, we combine them into a single event (19 filings total on a per-filing basis, 19 on a per-event basis).
単体株式保有割合が１％以上変動（減少）したため
純投資
純投資
経営関与。保有する株式について、株式会社キャピタルギャラリー、青山浩、大谷寛、株式会社人生設計と堅果シナジー投資事業有限責任組合との間で締結した令和8年4月6日付け応募契約に基づき、公開買付に応募したことによる担保契約等重要な契約の変更。
株式会社ティムコの公開買付（堅果シナジー投資事業有限責任組合による公開買付）への応募
2025年10月6日提出の大量保有変更報告書№11について、2025年10月9日に訂正報告書を提出したが、当該報告書に委任状の添付漏れがあったため再訂正するもの。
経営関与
純投資
純投資
純投資(キャピタルギャラリーは純投資、キャピタル・マネジメントはチャレンジ２号投資事業組合およびチャレンジ３号投資事業組合の業務執行組合員として純投資で保有)
純投資
純投資
Because these are at or below 5%, subsequent holding status cannot be tracked.
| YOTAI REFRACTORIES CO.,LTD.5357Other activists in this company → | 0.57% | 2025-05-21 |
This page mechanically aggregates and organizes disclosure data from EDINET large shareholding and change reports into a timeline. The "purpose of holding" field reproduces the original text as filed. It does not guarantee any particular investment judgment or interpretation of the filer's intent. Data is updated daily.
Source: EDINET (the Financial Services Agency's electronic disclosure system). "View original" links to the PDF of the original filing, which we retrieve and store via the EDINET API (EDINET's own browsing site does not support direct links to individual filings).
Click a card to expand it in the detailed chart below.
The horizontal axis reflects actual calendar dates (the real interval between filings); the vertical axis is ownership stake. Each marker is the value as of that filing — click it to view the underlying filing on EDINET (hover first to see the date and ratio).
The solid line marks changes confirmed by a filing. The lighter dashed line marks a stretch where the stake had fallen below 5% (so the continuing-disclosure obligation no longer applies) or where no new filing has been made since the latest report — the actual trajectory during that stretch is unknown (it does not necessarily mean the holding continued or stayed at a given level).
The brown square is a single-point benchmark, as of a different reference date, drawn from this company's shareholder registry (in its annual or semi-annual securities report) — we matched and combined entries by this investor's brand name (part of the fund manager's name). It uses a different reference date and source than the large shareholding filings, and is not connected to the step line. As of 2025/11/30, the shareholder registry shows a combined 14.07% under the name(s) 株式会社キャピタルギャラリー, versus 2.25% in the large shareholding report filed 2026/06/02 (difference: -11.82pt). Shareholder registries typically disclose only the top ~10 holders, so the gap may reflect vehicles not listed there, or not included in our matching. This name-matching is our own judgment based on brand names, and may differ from the actual capital relationships (group companies, fund management structures).