什么是5%机制？On Nov 21, Sumitomo Mitsui Trust Bank and related parties submitted the Change Report to Ministry of Finance. The report shows that Sumitomo Mitsui Trust Bank and related parties decreased their holdings in $Daicel (4202.JP)$, with their joint shareholding ratio down from 5.37% to 3.98%, 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.