Japan edition · Japanese equities
TY Asset Management cuts Fast Retailing stake by $15.8bn
The reduction disclosed on 16 October drove net selling across Japanese retailers to $20.8bn over the past 30 days.
A disposal worth $15.8bn was reported on 16 October, after TY Asset Management disclosed cutting a stake in Fast Retailing. The change took place on 9 October, and shares in the retailer are up 5.3 per cent since the trade.
The transaction accounted for most of the $15.9bn in reductions reported in 34 disclosures filed since 15 October. Over the same period, 28 filers registered increases worth $331.4mn.
Other filers reported purchases on 16 October. Kagoshima East India raised a stake in technology and telecoms group Hikari Tsushin by $138.1mn on 19 March, with the shares up 37 per cent since. Long Corridor Asset Management raised a stake in non-ferrous metals group S Crypto Energy by $74.5mn after a change on 13 October.
Over the past 30 days, retailers recorded the largest balance of selling, with 104 filings showing $21.7bn in reductions against $954.4mn in increases. Bank stakes grew the most on balance, with $4.6bn in increases and $106.5mn in cuts across 10 reports.
Companies in this column: Fast Retailing, S Crypto Energy, Hikari Tsushin.