Z Venture Capital Cuts Stake in THECOO (4255) to 3.55% | Large Shareholding Report

A large shareholding report (EDINET filing) shows that Z Venture Capital Co., Ltd. reduced its stake in THE COO (4255) to 3.55%. THE COO operates two business segments: a "Digital Marketing Business" handling influencer marketing and advertising consulting, and a "Fan Business Platform Business" running the membership-based fan community app "Fanicon"—with this 3.55% stake representing a significant shareholding stake relative to the company's market capitalization. The sale is estimated at approximately ¥170 million, marking a 2.09 percentage point decline from the previous disclosure, with the report filed on August 18, 2026.

Z Venture Capital is a domestic venture capital firm that invests in startup enterprises. The sale confirms a gradual reduction in the firm's stake over time.

For THE COO, the fiscal year ending December 2025 showed divergent performance across its business segments: the Fan Business Platform Business led growth with an 18.3% revenue increase, while the Digital Marketing Business declined 7.2%. The company went public on the Tokyo Stock Exchange Mothers in 2021, with the shares sold at ¥3,760 per share as of the disclosure date. *Speculation: The venture capital firm's gradual stake reduction may signal a shift toward investment recovery.