Tokyo ROPE Mfg.Co. Mfg Sees Major Shareholder Change After Nippon Steel Sale

TOKYO, Jun 24 (Pulse News Wire) – Tokyo Rope Mfg.co.,ltd (5981.T) announced changes in its major shareholders following a share sale by Nippon Steel Corporation., Nippon Steel's stake fell below the threshold of 10%, making it no longer a controlling shareholder. Nippon Steel, which had previously held the largest number of shares, sold part of its holdings based on the notice released on August 3, 2021.

As a result, Nippon Steel’s voting rights dropped from 10.01% to 5.10%. Prior to the transaction, Nippon Steel held 10,010,000 shares, while post-sale, the figure stands at 15,483,000 shares.

The company stated that despite the reduction in Nippon Steel's holding ratio, the firm remains a key supplier of raw materials and a partner in joint development initiatives. Therefore, there will be no impact on Tokyo Rope Mfg.'s operations or performance due to this change.