什么是5%机制？On Aug 20, 株式会社フラッグシップアセットマネジメント and related parties submitted the Change Report to Ministry of Finance. The report shows that 株式会社フラッグシップアセットマネジメント and related parties decreased their holdings in $Japan Power Fastening (5950.JP)$, with their joint shareholding ratio down from 17.9% to 0.0%, 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.