Evo Fund Cuts Stake in Diamond Electric Holdings (6699) to 27.2% | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that Evo Fund has reduced its stake in Diamond Electric Holdings (6699) to 27.2%. The sale comes from an event-driven investment fund affiliated with Evolution Japan. Diamond Electric is an electronic components manufacturer specializing in electrical wiring harnesses and connectors for automobiles and industrial machinery, with its 27.2% stake representing a significant portion of the company's market capitalization.

The stake reduction reflects a 1.20 percentage point decrease from the previous disclosure. The estimated sale amount was ¥70 million, with the stock trading at ¥528 per share as of the filing date. Evo Fund remains a major shareholder with over 27% ownership.

*Speculation: The fund's continued status as a substantial shareholder while gradually divesting shares may indicate either staged profit-taking following a particular event realization or a reallocation of capital toward other investment opportunities.