UGSアセットマネジメント株式会社
A Japan-based investor known for material proposals and management advisory engagement.
"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.
UGS Asset Management's EDINET purpose statements show a clearly graduated, company-specific approach rather than a single uniform template, though a core structure repeats across several names. For MITANI SANGYO, Takihyo, and MEITO, the filer uses near-identical language: "Pure investment and material proposal acts," explicitly tying engagement to "early achievement of a PBR of 1x" and "medium-to-long-term enhancement of corporate value," stating intent to pursue "constructive dialogue with management regarding improvement of capital efficiency and shareholder return policy," and reserving the right to make "material proposal acts" depending on circumstances. Notably, all three also disclose a stated plan to "make additional acquisitions exceeding 5% of total issued shares within the next three months" if shares are judged undervalued — a specific, repeated forward-looking disclosure. MEITO's filing additionally references dialogue beginning in a specific month and raises possible topics including "sale of strategic shareholdings," "expanding shareholder returns," and "strengthening governance." For Sata Construction, Yamato, Toyo Securities, and TriIs, the filer uses the shorter formula "Pure investment; making material proposal acts etc." without elaboration, while for Yotai Refractories, Miyaji Engineering, and Iwasaki Electric the stated purpose is simply "Pure investment," with no reference to proposal acts. Press coverage corroborates engagement activity consistent with these filings, including shareholder proposals at TriIs (2023) concerning director remuneration and board composition, and involvement alongside other activists in Toyo Securities, where a large buyback/defense-policy episode and a close 50–52% approval vote for incumbent directors occurred in 2024.
The ten covered tickers span eight sector categories (Wholesale Trade and Construction each with 2; Foods, Glass and Ceramics Products, Securities and Commodities Futures, Metal Products, Services, and Unknown with 1 each), indicating a broadly diversified rather than sector-concentrated portfolio, with a mild tilt toward Wholesale Trade and Construction.
Peak ownership ratios across the ten tickers range from 5.02% to 14.97%, with a median of 8.77%. This suggests the filer typically builds positions modestly above the 5% disclosure threshold, occasionally extending into the low-to-mid teens. Note that under Japan's large shareholding disclosure regime, positions are only observable once they cross 5%, so any accumulation below that level is not captured here.
Among positions still above 5% (n=4), elapsed days carry a median of 206 days — a lower bound only, since the true holding period remains undetermined and these positions may continue. Among positions that fell to 5% or below (n=5), the median time since that threshold breach is 667 days; critically, falling to 5% or below ends the disclosure obligation under Japan's regime, rendering the position fundamentally unobservable thereafter by this platform or anyone else — it does not indicate full divestment, and the filer may still hold a smaller stake. No definitive average holding period can be stated from this data.
Of the ten tracked positions, five fell to 5% or below (untrackable), while only one shows confirmed full divestment to 0% via an amendment report, with a median holding period of 553 days from initial disclosure to 0% and a peak ratio just before exit of 9.19%. Given the structure of Japan's disclosure regime, falling to 5% or below functions as the de facto, far more common exit signal observed here, while explicit confirmation of full divestment is rare — in this sample, just one instance. Press reports add relevant color: a 2024 buyback at Toyo Securities reportedly allowed the company to repurchase shares from activist holders including UGS, and short-term large-transfer amendment reports were filed for Sata Construction (September 2025) and Yamato (October 2024 and July 2025), consistent with active position adjustments, though these do not by themselves confirm full exits. Sample sizes for both the "fell below 5%" and "confirmed 0%" categories remain limited. This commentary reflects only activity captured within this site's data collection period and should not be read as the filer's complete historical investment record in the Japanese market. It does not constitute a definitive assessment, investment advice, or a conclusive interpretation of the filer's intent.
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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 (49 filings total on a per-filing basis, 49 on a per-event basis).
Pure investment and material proposal acts, etc. For the purpose of early achievement of a PBR of 1x by the issuer and medium-to-long-term enhancement of corporate value, intends to engage in constructive dialogue with management regarding improvement of capital efficiency and shareholder return policy. Material proposal acts are currently undecided but may be made depending on circumstances. Also, if the market price is judged undervalued, plans to make additional acquisitions exceeding 5% of total issued shares within the next three months.
Pure investment, and performance of material proposal acts, etc. For the purpose of achieving early attainment of a PBR of 1x by the issuer and improving medium- to long-term corporate value, the filer intends to continue constructive dialogue with management on improving capital efficiency and on shareholder return policy. Material proposal acts are undecided at this stage but may be carried out depending on the progress of dialogue. Also, if the market price is undervalued, there is a plan to additionally acquire shares exceeding 5% of total issued shares within three months.
Pure investment, and performance of material proposal acts, etc. For the purpose of achieving early attainment of a PBR of 1x by the issuer and improving medium- to long-term corporate value, the filer plans, after submission of this report, to request constructive dialogue with management on improving capital efficiency and on shareholder return policy. Material proposal acts, such as exercising shareholder proposal rights at the shareholders' meeting, are undecided at this stage, but the filer may carry them out if deemed necessary in accordance with the progress and status of future dialogue with management. Furthermore, if the market price of the issuer's shares remains at a level judged undervalued, the filer plans, as part of a portfolio investment, to additionally acquire common shares exceeding 5% of the issuer's total issued shares within the next three months through transactions on and off the market.
Pure investment, and for the purpose of performing material proposal acts, etc., aimed at the issuer's sustainable growth and improvement of medium- to long-term corporate value. Dialogue with management began in March 2026, and there is a possibility of making proposals or providing advice on improving capital efficiency (sale of strategic shareholdings), expanding shareholder returns, eliminating the price-to-book ratio (PBR) below 1x, and strengthening governance. Furthermore, if the market share price is judged to be undervalued, there is a plan to make additional acquisitions exceeding 5% of total issued shares within the next three months.
Pure investment, and performance of material proposal acts, etc. For the purpose of achieving early attainment of a PBR of 1x by the issuer and improving medium- to long-term corporate value, the filer plans, after submission of this report, to request constructive dialogue with management on improving capital efficiency and on shareholder return policy. Material proposal acts, such as exercising shareholder proposal rights at the shareholders' meeting, are undecided at this stage, but the filer may carry them out if deemed necessary in accordance with the progress and status of future dialogue with management. Furthermore, if the market price of the issuer's shares remains at a level judged undervalued, the filer plans, as part of a portfolio investment, to additionally acquire common shares exceeding 5% of the issuer's total issued shares within the next three months through transactions on and off the market.
Pure investment, and for the purpose of performing material proposal acts, etc., aimed at the issuer's sustainable growth and improvement of medium- to long-term corporate value. Dialogue with management began in March 2026, and there is a possibility of making proposals or providing advice on improving capital efficiency (sale of strategic shareholdings), expanding shareholder returns (treasury share acquisitions and dividend increases), eliminating the price-to-book ratio (PBR) below 1x, and strengthening governance; the filer is also preparing to exercise shareholder proposal rights. If the market price is undervalued, there is a plan to make additional acquisitions exceeding 5% of total issued shares within the next three months.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment
Pure investment; making material proposal acts etc.
Pure investment
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment; making material proposal acts etc.
Pure investment
Pure investment
Pure investment
Pure investment
Pure investment
Pure investment
Under Japan's large shareholding reporting system, a filing obligation is triggered once a stake exceeds 5%, and a change report must be filed for every 1-point-or-more move after that. Once a holding drops to 5% or below, its status can no longer be tracked via EDINET at all, so the figures below reflect "as of the most recently filed report" — not the current holding.
| Company | Stake per latest report | Filing date |
|---|---|---|
| TriIs Incorporated4840Other activists in this company → | 10.09% | 2023-02-21 |
| MEITO CO.,LTD.2207Other activists in this company → | 9.75% | 2026-05-27 |
| Takihyo Co.,Ltd.9982Other activists in this company → | 8.19% | 2026-08-25 |
| MITANI SANGYO CO.,LTD.8285Other activists in this company → | 5.02% | 2026-10-22 |
Because these are at or below 5%, subsequent holding status cannot be tracked.
| MIYAJI ENGINEERING GROUP,INC.3431Other activists in this company → | 4.79% | 2023-08-22 |
| IWASAKI ELECTRIC CO., LTD.6924Other activists in this company → | 4.15% | 2023-03-10 |
| TOYO SECURITIES CO.,LTD.8614Other activists in this company → | 4.14% | 2024-12-25 |
| Sata Construction Co.,Ltd.1826Other activists in this company → | 1.11% | 2025-09-22 |
| YOTAI REFRACTORIES CO.,LTD.5357Other activists in this company → | 0.71% | 2025-05-21 |
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.
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).