NBSE Corporation Cuts Stake in Kusuri no Madoguchi (5592) to 7.89% | Large Shareholding Report

A large shareholding report (EDINET filing) shows that NBSE Corporation has reduced its stake in Kusuri no Madoguchi (5592) to 7.89%. The company operates a platform connecting dispensing pharmacies, medical institutions, care facilities, and users, with three main business segments: Media Business (39.4%), including the "EPARK Kusuri no Madoguchi" pharmacy search site and the "EPARK Okusuri Techou" digital medicine notebook, Minnadooyakuhako Business (27.9%), and Core System Business (33%), positioning it as a material shareholder in the company's market capitalization.

According to the change report filed on August 29, 2025, NBSE's shareholding decreased by 20.09 percentage points from the previous disclosure of 27.98%, resulting in the current 7.89% stake. The estimated sale proceeds from this transaction amount to ¥8.88 billion. A major shareholder that has maintained significant involvement since the company's period as a subsidiary of Freebit has substantially reduced its ownership stake in the company, which has expanded its business scope while capturing demand in the dispensing pharmacy sector.

With this sale, NBSE's influence over the company is materially reduced. *Speculation: The investment position adjustment by a major shareholder may reflect business diversification and maturation of the healthcare platform as it expands its operational footprint.