Oasis Management's Japan Activist Positions (2026)
In a single week in May 2026, Oasis Management Company disclosed positions above 5% in five Japanese listed companies — IIJ, KYB, Kanadevia, Ichikoh and Nichirei — each filing stating the same purpose: "portfolio investment and important proposal activity." No single filing says "campaign." You only see it by stacking them.
| Company | Ticker | Stake | Primary source |
|---|---|---|---|
| Internet Initiative Japan (IIJ) | 3774 | 7.48% (~¥36.4bn) | S100Y1ML |
| KYB | 7242 | 5.63% | S100Y25J |
| Kanadevia (ex-Hitachi Zosen) | 7004 | 5.44% | S100Y2B5 |
| Ichikoh Industries | 7244 | 5.39% | S100Y2BG |
| Nichirei | 2871 | 5.01% | S100Y79Q |
What the filings show — and don't
Four of the five crossed their 5% threshold inside one week (April 24–30, 2026), several built through off-market blocks rather than slow open-market buying. One filing at a time, each is "a fund hit 5%." Stacked, it is one fund opening five fronts at once — including a ¥36bn stake in a large-cap infrastructure name (IIJ).
For Nichirei (2871), the fund goes further than the others: it states it is already making proposals and plans to raise its stake past 5%.
What the filings withhold: the actual proposals, the boards' responses, and whether these five are one theme or five coincidences. The filings reserve the right to act; they don't say what the act is.
Two of the five boards have since answered, on the company side: see what Kanadevia and Nichirei disclosed the same day this stake became public.
FAQ
- Which Japanese companies has Oasis Management invested in (2026)?
- IIJ (3774) 7.48%, KYB (7242) 5.63%, Kanadevia (7004) 5.44%, Ichikoh (7244) 5.39%, Nichirei (2871) 5.01% — all disclosed May 2026.
- What is Oasis Management Company?
- A Cayman-based activist investment fund (EDINET code E31883, established 2011-06-16).
- Where can I verify these positions?
- Each links to its primary EDINET large-shareholding report (PDF) in the table above.