Rakus disclosed that Singapore-based Ichigo Trust PTE Limited expanded its voting rights ratio on Oct 8, 2026. The investor now holds 10.38 percent of shares, rising to the second-largest position.
A shareholder registry dated Sept 30, 2026, published by Rakus reveals significant changes in the holdings of Ichigo Trust PTE Limited, an investment firm located on Singapore's High Street Center. The entity filed a timely disclosure regarding its status as a major shareholder on Oct 8, 2026.
Before the change (as of June 15, 2026), the investor held 34,715,900 shares with a voting rights ratio of 9.80 percent. Following the increase (as of Sept 30, 2026), the holding grew to 36,761,600 shares, pushing the ownership ratio to 10.38 percent. This move elevated the investor to the second-largest shareholder ranking.
The net increase in shares totaled 2,045,700, adding over 20,000 voting rights. The ownership ratio rose by approximately 58 basis points from the previous period. Rakus' total issued shares remained constant at 354,391,000, with a slight reduction in non-voting shares contributing marginally. However, the primary driver is the direct increase in holdings by the investor.
Analysis of Rakus' disclosure notes highlights a subtle but important detail in the ownership calculation method. The pre-change ratio of 9.80 percent was calculated using a denominator of 3,541,093 voting rights, derived by deducting 281,659 non-voting shares from the total as of March 31, 2026.
In contrast, the post-change ratio of 10.38 percent uses a denominator of 3,541,175 voting rights as of Sept 30, 2026. This reflects a decrease in non-voting shares to 273,406, effectively increasing the total voting base by approximately 82 shares. Meanwhile, Ichigo Trust's voting rights increased by roughly 1,957 (from 347,159 to 367,616).
Rakus noted that while the pre-change figures were based on a large-scale holding report dated June 22, 2026, the exact real ownership was not fully confirmed at that time. The Sept 30 registry data now firmly establishes the investor's second-place status. While 10.38 percent is low compared to the industry average of 40-50 percent for major shareholders, it provides significant influence over retail and institutional investors.
Ichigo Trust PTE Limited lists its business as "investment" and is based in Singapore. Its emergence as a shareholder with 10.38 percent voting rights suggests growing long-term structural attention from overseas on Rakus' stock.
Sudden increases in major shareholder stakes often signal strategic alliances, cross-shareholding, or accumulation by investment funds. For Rakus' mobile cloud and corporate solutions, this entity could become a key capital and network partner for expanding into the Singapore and ASEAN markets.
Rakus stated there are no specific matters to report regarding future forecasts, denying immediate management changes or major transactions. However, securing a 10 percent+ shareholder significantly raises its importance in investor relations activities. For Tokyo Stock Exchange Prime Group companies, such fluctuations are sensitive corporate governance issues.
Investors should monitor whether this Singapore entity acts merely as an investor or becomes a strategic stakeholder in Rakus' global expansion. The rise likely reflects cumulative holding rather than transient trading, making it a key factor in the ==Equity Method Related Company Valuation Loss Analysis==.
Analyst take
This disclosure goes beyond a simple shareholder composition change and may directly impact Rakus' equity method related companies, such as its mobile cloud services. The risk of valuation losses in consolidated net assets needs close monitoring as the Singapore entity wields over 10 percent voting rights.
Attention should be paid to the possibility of ==conversion into a structural shareholder== rather than a one-time price movement. It is crucial to verify official comments on capital business and relations through the investor relations window, led by Representative President Takano Nakamura and General Manager of Management Takanori Miyuchi.
