サファイアテラ・キャピタル
A Chicago-based investor that has published proposals on shareholder returns and capital policy to Sanyo Shokai, Goldcrest and ITOCHU-SHOKUHIN.
"Companies tracked" and "first seen" reflect activity within our coverage period (from 2021-09-09 onward, the past five years) 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 single sample purpose statement on file, for SANYO SHOKAI LTD., reads: "Pure investment and making material proposals (acts of making important proposals), etc." This is an explicit, assertive formulation that goes beyond passive investment and signals a willingness to engage in important proposal actions. This is corroborated by press coverage describing Sapphireterra Capital's conduct toward Sanyo Shokai: a November 2025 proposal for a JPY 4 billion share buyback, a July 2025 letter proposing a sale to major shareholder Mitsui & Co. alongside a JPY 16 billion buyback proposal, and an April 2026 shareholder proposal for a JPY 1,200 per-share special dividend that was put to the June 2026 annual general meeting (and ultimately rejected by the board and shareholders, with ISS recommending against it). Press also describes the filer's CIO engaging directly with management via letter. With only one covered ticker, it is not possible to assess consistency of wording across multiple holdings, but the language and reported conduct both point toward an active, capital-policy-focused engagement approach for this position.
Coverage within this dataset is limited to a single sector: Textiles and Apparels (1 company). Based solely on this platform's data, no conclusion can be drawn about sector diversification or concentration beyond noting that the sole tracked position sits in apparel/retail. Press coverage mentions a separate, non-EDINET-tracked engagement with Goldcrest (real estate) since 2024, suggesting the filer's broader engagement activity may span more than one sector, though that holding is outside this platform's coverage and cannot be corroborated with filing data here.
The sole tracked position peaked at 8.12% ownership (median and range identical, n=1). Under Japan's large shareholding disclosure regime, filers are only required to disclose once ownership exceeds 5%, so this reflects the highest disclosed level reached, not necessarily the ceiling the filer would otherwise target. Press reports describe a roughly 5% stake as of July 2025 rising to roughly 7% by April 2026, broadly consistent with an accumulating position in the mid-to-high single digits, though the peak captured in filings (8.12%) is somewhat above the press-cited 7% figure, likely reflecting timing differences between snapshots.
The single tracked position has fallen to 5% or below, with 61 days elapsed since that point as of the latest data. Under Japan's disclosure regime, once a position drops to 5% or below, the disclosure obligation terminates and the position becomes fundamentally unobservable — not just by this platform, but by any outside party relying on these filings. Falling to 5% or below does not mean the filer has fully divested; a smaller residual stake may still be held. With no positions still tracked above 5% in this dataset, there is no lower-bound holding-period figure to cite for an ongoing position. No definitive average holding period can be stated from this single data point.
The one tracked position falls into the "fell to 5% or below (untrackable)" category; there are no confirmed full-divestment (0%) cases in this dataset, so no peak-ratio-before-exit figure is available for comparison. Given the structure of Japan's large shareholding disclosure regime, a drop to 5% or below functions as the de facto, observable exit signal, while explicit confirmation of full divestment to 0% via an amendment report is comparatively rare — and indeed absent here. It should not be inferred that the filer has exited the Sanyo Shokai position entirely; the sample size (n=1) is too small to characterize a broader exit pattern for this filer. This commentary reflects only the activity captured within this platform's collection period and data coverage, not the filer's complete historical investment record in the Japanese market, and does not constitute a definitive assessment or investment judgment regarding Sapphireterra Capital's intent or future actions.
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Materials this investor published itself, such as white papers, presentations, open letters and campaign websites (January 2020 onward; 3 items for 2 companies not found in the large shareholding filings below. The other 3 items appear in the filing history below). "Open" shows the copy kept by beluuga.ai; "Source" links to where it was originally published.
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 (3 filings total on a per-filing basis, 3 on a per-event basis).
Materials the investor published itself about the same companies (white papers, presentations, open letters, etc.; 3 items) are shown in date order with a document icon. "Open" shows the copy kept by beluuga.ai; "Source" links to where it was originally published.
Pure investment and making material proposals (acts of making important proposals), etc.
Pure investment and material proposal (acts of making important proposals) etc. to be carried out
Sapphireterra Capital Urges Shareholder Support for Special Dividend Proposal at Sanyo Shokai's AGM(English)
Pure investment
サファイアテラ・キャピタル：三陽商会に対し一般株主からの自己株式取得を求めます(Japanese/English)
Because these are at or below 5%, subsequent holding status cannot be tracked.
| SANYO SHOKAI LTD.8011Other activists in this company → | 4.97% | 2026-09-07 |
Other tracked activist investors that hold a stake in at least one of the same companies.
This page mechanically aggregates and organizes disclosure data from publicly filed large shareholding and change reports into a timeline. The "purpose of holding" field is a machine translation of the original Japanese text as filed; the original filing is authoritative. It does not guarantee any particular investment judgment or interpretation of the filer's intent. Data is updated daily.
Source: public filings (large shareholding and change reports). "View original" links to the PDF of the original filing stored by beluuga.ai.
Published materials are documents the investor itself made public; their content and copyright belong to the investor. beluuga.ai keeps copies as published so they remain available after the original page is taken down.
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).