On Jul 5, RHEOS Capital submitted the Change Report to Ministry of Finance. The report shows that RHEOS Capital decreased their holdings in $Digital Arts (2326.JP)$, with their joint shareholding ratio down from 5.07% to 3.93%, below 5%.
Source: Edinet Announcement
What is the 5% shareholding reporting system?
Shareholders with holding ratio exceeding 5% must submit a Large Shareholding Report within five business days from that day. If the holding ratio increases or decreases by 1% or more after submitting a Large Shareholding Report, the holder must submit a Change Report within five business days from that day.