Large holders cut Advantest and banks as BlackRock backs Keyence
Large holders reported $2.8bn of net selling in a fortnight when TOPIX fell 3.7 per cent. They cut Advantest and the banks, added to Keyence and activist targets, and mostly sold shares that went on beating the market.
The Hill Ledger · · filings of 10 October 2026 to 23 October 2026 · 13 min read
In brief
Large shareholders reported $2.8bn of net selling, against $4.2bn the fortnight before, while TOPIX fell 3.7 per cent.
Advantest Corporation led the selling with $3.8bn from two financial groups. Its shares are down 21 per cent since, a fall the cuts probably reflect rather than predict.
Keyence Corporation led the buying with $1.3bn, attributed by our column to BlackRock Japan, in a rotation inside Electric Appliances, which took 45 per cent of all buying.
Banks saw $936.0mn of net selling just as headlines reported inflation above 2 per cent, and most of the sold shares went on beating TOPIX.
Holders open to proposals added $962.2mn and cut $242.2mn. Oasis Management Company raised Nidec to 9 per cent and entered Takara Holdings.
The money map
Large-shareholding reports by sector: each bubble a company, sized by the value of the stakes changed