Ichigo Asset Management International Pte. Ltd. Takes 19.18% Stake in Chiyoda (8185) | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that Ichigo Asset Management International Pte. Ltd. holds a 19.18% stake in Chiyoda (8185). The purchaser is an offshore investment vehicle affiliated with the Ichigo Group. Chiyoda is an industrial components manufacturer specializing in hydraulic equipment, pneumatic equipment, and piping components, with its 19.18% shareholding representing approximately one-fifth of the company's market capitalization—a substantial anchor investor position.

The large shareholding report was filed on May 19, 2026. No disclosures by the same filer regarding this company have been identified within the preceding 400 days, indicating that this appears to be a material new acquisition or significant reentry into the shareholding position. The estimated acquisition cost was ¥6.15 billion, with the stock trading at ¥944 per share as of the disclosure date.

*Speculation: The Ichigo Group may have identified an investment opportunity in the industrial components sector and decided to establish or substantially reinvest its position in Chiyoda.