Oasis Management Company Ltd. Cuts Stake in Digital Garage (4819) to 0% | Large Shareholding Report

A large shareholding report (EDINET filing) shows that Oasis Management Company Ltd. has reduced its stake in Digital Garage (4819) to 0%. The sale marks a complete exit by the Hong Kong-based activist fund. Digital Garage is an internet-related company engaged in digital marketing, payment services, and investment operations, making the fund's divestment a significant move given its substantial prior stake in the company's market capitalization.

Oasis is a prominent activist fund that has been involved in the management of multiple Japanese companies including Toshiba and Kyocera. As of the report filing date of September 30, 2025, the fund's stake in Digital Garage decreased by 17.88 percentage points to reach 0%. The estimated proceeds from this sale amount to ¥50.88 billion. The gradual reduction in shareholding over time suggests that this complete exit marks the conclusion of the fund's engagement with the company.

*Speculation: The activist fund's complete withdrawal from Digital Garage may signal a transition to a new management phase for the company, potentially reshaping its strategic direction and operational governance.