SBI Securities Cuts Stake in NANO Holdings (4571) to 24.91% | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that SBI Securities Co., Ltd. has reduced its stake in NANO Holdings Co., Ltd. (4571) to 24.91%. This divestment comes from Japan's largest online brokerage. The company specializes in mRNA pharmaceutical development and nucleic acid therapeutics, while also operating investment businesses in biotech ventures and developing lipid nanoparticle technologies. The 24.91% holding represents ownership of approximately one quarter of the company's outstanding shares, establishing SBI Securities as a major shareholder.

SBI Securities' position in NANO Holdings dates back to the initial disclosure of 35.78% on November 7, 2025. The current filing marks the tenth change report, with nine modifications filed over less than a year. The stake has declined by more than 10 percentage points from the original level, indicating a staged divestment process. The reduction in this round amounts to 1.18 percentage points. Based on the August 27 stock price of ¥103 per share, the estimated proceeds from this sale reach approximately ¥100 million.

SBI Securities maintains holdings exceeding 5% in 64 companies, suggesting a diversified portfolio strategy across multiple sectors and industries. Its largest holding is Kaizen Platform Co., Ltd. in the information and communications sector at 11.07%, followed by Hikari Heights Veras in real estate (8.78%), Cookbiz Inc. in services (8.57%), Sakurajima Pier Corporation in warehousing and transportation (8.41%), and GreenEnergy & Company in construction (8.24%). NANO Holdings' 24.91% stake stands as exceptionally high among all positions held by the brokerage.

NANO Holdings' share price currently sits at 6% within its 52-week range, reflecting significant declines over the past year. The price-to-book ratio (PBR) stands at 2.67x, indicating a premium to book value. This valuation reflects market perceptions of the company's growth prospects and current pricing, though assessments may vary depending on comparable companies selected within the biotech development sector.

*Speculation: The step-by-step reduction from an initial stake exceeding 35% by Japan's largest online brokerage suggests possible portfolio optimization or shifts in investment strategy at the firm.