MTM Capital Corrects Reported Stake in Chiiki Newspaper (2164) to 9.55% | Amended Large Shareholding Report

A large shareholding report (EDINET filing) reveals that MTM Capital K.K. has revised its previously reported 5.09% stake in Chiiki Newspaper Co., Ltd. (2164) to 9.55%. The correction comes from an independent investment company engaged in PIPE, M&A, and AI adoption support services. Chiiki Newspaper publishes regional newspapers across Japan, and the 9.55% holding represents a substantial position within the company's equity base. The corrected holding reflects an upward adjustment of 4.46 percentage points from the previously disclosed figure.

Gradual Position Building Since July 2025

MTM Capital's initial disclosure for this stock came on July 10, 2025, when it reported a 15.94% stake. The company has since made ten additional disclosures, with the current correction representing its eleventh filing. Looking at the reported figures from inception to now, the stake appeared to decline by 6.39 percentage points, suggesting that position size has shifted across multiple reporting periods. As a correction report, the current filing reflects a recalibration of previously submitted data through subsequent review and verification.

Position Within the Shareholder Structure

Among Chiiki Newspaper's major shareholders, MTM Capital now stands at 9.55%, behind Satoshi Toki (15.94%), Option House K.K. (11.63%), and Next Growth K.K. (11.1%). The position exceeds that of Chuko K.K. (5.43%) and Katsutoshi Hosoya (4.11%). With multiple investors and individuals holding stakes above 5%, MTM Capital ranks as part of the fourth-largest shareholder cohort, positioning it within a competitive field of engaged stakeholders.

Stock Price and Valuation Metrics at Filing

At the time of disclosure, Chiiki Newspaper's stock price was ¥146, with a PBR of 0.84x. The 0% position within the 52-week range indicates this price represents the 52-week low. A PBR of 0.84x signals trading below book value, reflecting market valuation below the company's net asset per share.

*Speculation: The clarification of the 9.55% actual holding through this correction could allow market participants to more accurately assess MTM Capital's substantive engagement with the company.