MTM Capital Corrects Reported Stake in Chiiki Shimbun (2164) to 13.24% | Amended Large Shareholding Report

A large shareholding report (EDINET filing) shows that MTM Capital Co., Ltd. has revised its previously reported stake in Chiiki Shimbun Co., Ltd. (2164) from 9.55% to 13.24%. The revision comes from an independent investment company specializing in PIPE transactions, M&A advisory, and AI implementation support. Chiiki Shimbun publishes and distributes regional newspapers across Japan, contributing to regional information dissemination and local economic development. At the revised holding ratio of 13.24%, the company now represents a substantial position within the firm's shareholding structure, valued at ¥146 per share as of the disclosure date.

Shareholding trajectory since July 2025

This represents the 10th large shareholding disclosure by MTM Capital regarding Chiiki Shimbun. The initial filing on July 10, 2025 showed a holding ratio of 15.94%. The upward revision from 9.55% to 13.24% leaves a gap of 2.70 percentage points from that initial disclosure. The investor has made multiple filings across the intervening period, reflecting ongoing adjustments to its position.

Positioning relative to other major shareholders

The revised 13.24% holding places MTM Capital among the company's upper-tier shareholders. Among the principal investors, Satoshi Toki holds 15.94% as the largest shareholder, followed by Option House Inc. at 11.63% and Next Growth Co., Ltd. at 11.1%. Following this revision, MTM Capital now assumes the second-largest shareholder position, surpassing Option House Inc. and ranking directly below the top-ranked shareholder.

Stock valuation metrics and price positioning

As of the disclosure date, Chiiki Shimbun's stock price stood at ¥146 with a price-to-book ratio of 0.84 times. The position at 0% within the 52-week price range indicates the current price represents the lowest point reached over the past year. This reflects an extended period during which the company's shares have traded within a compressed lower range.

*Speculation: The gap between the previous and revised holding ratios may reflect underlying shifts in how the market perceives and values the company's equity positioning.