now integrated into 3D Investment Partners Pte. Ltd.
About Us
Profile
Greetings
Members
Corporate Philosophy
Investment Philosophy
Message
Message 2026
9/Feb/2026 ― Japan’s Capital Markets Perspective – Note on the Structural Transformation
Message 2025
8/Dec/2025 ー Comments on the Investigation Report Regarding Tokyo Cosmos Electric
28/Nov/2025 ー Announcement regarding business integration into 3D Investment Partners
27/Oct/2025 – Connecting JPC’s Q2 Performance with Trends in the Semiconductor-Related Functional Chemicals Industry
22/Oct/2025 – Submission of Public Comment to the Tokyo Stock Exchange
26/Sep/2025 – Nikkei Business CIO Dialogue: Hibiki Path Advisors × Misaki Capital
Message 2024
Message 2023
Message 2022
Message 2021
Message 2020
Message 2019
Message 2018
Message 2017
Message 2016
Engagement
Letter
4/Jul/2025 － Public document disclosed by the FSA
3/Jul/2025 – Nikkei’s article about DOE
Merits and Challenges of Being Publicly Listed in the Era of Unsolicited Takeovers
A Historiographical Study of the Cross-Shareholding Structure in Japan and our Six Suggestions to the Management
2022 New Year Message (only in Japanese)
2021 New Year Message Part 3 (only in Japanese)
2021 New Year Message Part 2 (only in Japanese)
2021 New Year Message Part 1 (only in Japanese)
2020 New Year Message (only in Japanese)
A Brief Essay About ‘Dividends’
2019 New Year Message to Companies (translated summary)
Shareholder meetings, board meetings, and democracy: Thoughts on shareholder proposals
2018 New Year Message – About “face”
2017 New Year Message
ADQU(SGX)：Accordia Golf Trust
Response to Updated Divestment Proposed for Accordia Golf Trust
Hibiki together with more than 50 Minority Unitholders of Accordia Golf Trust are calling for EGM
Video Presentation on Accordia Golf Trust
Response to Divestment Proposal for Accordia Golf Trust
Letter to Board of Members of Accordia Golf Trust Management (June 2020)
1716：DAIICHI CUTTER KOGYO
02/Mar/2022 – Proposal for valuation improvement to DAIICHI CUTTER KOGYO K.K.
1786：Oriental Shiraishi Corporation
08/May/2023 – Proposal Letter to Oriental Shiraishi Corporation
1921：Tomoe
6/Mar/2026 Share Buyback and Sale of Cross-Shareholdings
23/Jan/2026 － Follow-Up on Our Request for a Complete Overhaul of the Medium-Term Management Plan and the Establishment of a Special Committee
3/Oct/2025 – Letter to Tomoe CORPORATION
13/Jun/2025 – ISS Endorses Hibiki’s Shareholder Proposals to Tomoe Corporation
5/June/2025 ー Comments on the Revision of the Medium-Term Management Plan
29/May/2025 ー Shareholder proposal for Tomoe Corporation
1944：KINDEN
02/Jul/2024 – About AGM of KINDEN CORPORATION
16/Jun/2024 – ISS Recommends Support for Hibiki’s Shareholder Proposals
20/May/2024 – Shareholder proposal for KINDEN CORPORATION
14/Oct/2023 – Proposal Letter Explanation Video about Kinden Corporation
04/Oct/2023 – Proposal Letter to KINDEN CORPORATION
2768：Sojitz
10/Nov/2022 – Sojitz Corporation towards achieving 1.0x PBR early
2975：Star Mica Holdings
16/Jan/2025 – Commentary on Star Mica Holdings Earning Call
14/Jun/2023 – Introduction of Engagement Update Video about Star Mica Holdings Co., Ltd.
24/Nov/2022 – Hibiki Path Advisors sends proposal letter to three major used condominium resalers
3002：GUNZE
3088：MatsukiyoCocokara
05/Jan/2023 – Letter to MatsukiyoCocokara & Co.
02/Dec/2022 – Discussion Material to MatsukiyoCocokara & Co. for Further Upside
15/Jun/2022 – Discussion for MatsukiyoCocokara & Co.
11/Mar/2022 – IR Enhancement Proposal to MatsukiyoCocokara & Co.
10/Mar/2021 – Our Opinion as a Minority Shareholder of Cocokarafine (Opposition to Share Exchange Ratio)
3107：Daiwabo Holdings
16/Mar/2022 – Discussion for business strategy and valuation improvement with Daiwabo Holdings Co., Ltd.
3182：Oisix ra daichi
15/Nov/2022 – Oisix ra daichi Inc. Further growth and BS management
10/Mar/2022 – Proposal for corporate value enhancement to Oisix ra daichi Inc.
27/Jan/2022 – Letter to Board of Directors of Oisix ra daichi Inc.
3294：e’grand
24/Nov/2022 – Hibiki Path Advisors sends proposal letter to three major used condominium resalers
3791：IG Port
29/Aug/2025 ー IG Port’s Annual General Meeting of Shareholders
17/Jun/2025 – Announcement Regarding Capital and Business Alliance between IG Port, Inc. and Sanrio Company, Ltd.
01/Sep/2023 – Yuya Shimizu appointed as an external adviser to IG Port, Inc.
4659：AJIS
4917：Mandom
6/Nov/2025 ― Mandom: Large Shareholding Report
22/Sep/2025 – The Toyo Keizai article regarding the MBO of Mandom Corporation
17/Sep/2025 – Letter of Inquiry Explanation Video about Mandom Corporation
16/Sep/2025 – Letter of Inquiry to Mandom CORPORATION
8/Aug/2025 – Earnings Release Commentary
4/Jul/2025 – The Toyo Keizai article on Mandom Corporation
15/Apr/2025 – Proposal Letter Explanation Video about Mandom Corporation
7/Apr/2025 – Proposal Letter to Mandom Corporation
4973：JAPAN PURE CHEMICAL
22/Dec/2025 － Japan Pure Chemical: Request for a Complete Overhaul of the Mid-Term Plan and the Establishment of a Special Committee
27/Nov/2025 ー Japan Pure Chemical: The Hidden AI Stock You Can’t Ignore ～Spotlight on AI Server Optical Transceivers ～
30/Jul/2025 ー JPC: Revised Large Shareholding Report
27/Jun/2025 — Results of JPC’s 54th Annual General Meeting of Shareholders (comment on voting results)
23/Jun/2025 ー JPC’s 54th Annual General Meeting of Shareholders
16/Jun/2025 – Appointment of an Inspector for the 54th Annual General Meeting of JAPAN PURE CHEMICAL CO., LTD.
11/Jun/2025 – Hibiki Path Advisors finalized Its Policy for the 54th Annual General Meeting of JAPAN PURE CHEMICAL CO., LTD.
7/Jun/2025 – ISS Endorses Hibiki’s Shareholder Proposals to JAPAN PURE CHEMICAL CO., LTD.
4/Jun/2025 – Connecting the developments surrounding TAIYO HOLDINGS with our campaign against JAPAN PURE CHEMICAL CO., LTD.
1/Jun/2025 – Regarding the Public Campaign as the largest Shareholder of JAPAN PURE CHEMICAL CO., LTD.
28/May/2025 ー Publication on DIAMOND online regarding JPC campaign
26/May/2025 ー As the largest shareholder of JAPAN PURE CHEMICAL CO., LTD., requested the Outside Directors to provide their thoughts regarding Hibiki’s opinion
22/May/2025 – Commentary of the shareholder proposal to JAPAN PURE CHEMICAL CO., LTD.
21/May/2025 – Submission of a shareholder proposal to JAPAN PURE CHEMICAL CO., LTD. as its largest shareholder
2/Oct/2024 ー About Letter to the board of directors in Japan Pure Chemical Co., Ltd.
01/Jul/2024 – About AGM of JAPAN PURE CHEMICAL CO., LTD.
16/Jun/2024 – ISS Recommends Support for Hibiki’s Shareholder Proposals
03/Jun/2024 – Shareholder Proposal Explanation Video about JAPAN PURE CHEMICAL CO., LTD.
24/May/2024 – Shareholder Proposal for JAPAN PURE CHEMICAL CO., LTD.
30/Jun/2023 – Regarding the results of AGM of Japan Pure Chemical Corporation
22/May/2023 – Shareholder proposal explanation video about JAPAN PURE CHEMICAL CO., LTD.
19/May/2023 – Shareholder Proposal for JAPAN PURE CHEMICAL CO., LTD.
02/Feb/2023 – Discussion material for JAPAN PURE CHEMICAL CO., LTD
5121：Fujikura Composites
26/Jan/2026 – Large Shareholding Report
December 26, 2025 – Share Repurchase Announcement
5/Dec/2025 – Comments on Fujikura Composite 2Q Earnings Briefing
14/Nov/2025 – Submission of Our Proposal for Fujikura Composites
5999：IHARA SCIENCE
16/Feb/2023 – Letter to IHARA SCIENCE CORPORATION
6143：Sodick
15/Mar/2022 – Proposal for IR improvement to Sodick Co.,Ltd.
6340：SHIBUYA CORPORATION
7157：LIFENET INSURANCE
22/Apr/2022 – Letter to Lifenet Insurance Company
7164：ZENKOKU HOSHO
22/Feb/2023 – Presentation to ZENKOKU HOSHO Co., Ltd.
26/Aug/2022 – Letter to ZENKOKU HOSHO Co., Ltd.
7716：NAKANISHI
7817：PARAMOUNT BED HOLDINGS
25/Apr/2022 – Letter to PARAMOUNT BED HOLDINGS CO., LTD.
7906：YONEX
10/Jul/2024 ー About Discussion with YONEX Co., Ltd.
7952：Kawai Musical Instruments Manufacturing
21/Oct/2025 – Update on the International Chopin Piano Competition
13/Oct/2025 – KAWAI’s Remarkable Progress at the Chopin Competition
31/May/2025 – Discussion on the medium-term management plan with Kawai Musical Instruments Manufacturing Co., Ltd.
23/Mar/2025 – Commentary on Medium-Term Management Plan of Kawai Musical Instruments Mfg. Co., Ltd.
04/Dec/2024 – Discussion with Kawai Musical Instruments Manufacturing Co., Ltd.
23/Aug/2023 – Discussion with Kawai Musical Instruments Manufacturing
11/Jun/2023 – Introduction of Follow-up Engagement Video about Kawai Musical Instruments Manufacturing Co. Ltd.
18/May/2023 – Engagement Explanation Video about Kawai Musical Instruments Manufacturing Co., Ltd.
08/May/2023 – Letter to Kawai Musical Instruments Manufacturing Co., Ltd.
8940：INTELLEX
24/Nov/2022 – Hibiki Path Advisors sends proposal letter to three major used condominium resalers
8697：Japan Exchange Group
22/Nov/2022 – Tokyo Stock Exchange, Inc. Meetings with management to strengthen the competitiveness of Japan’s financial and capital markets
8929：Aoyama Zaisan Networks
05/Jun/2023 – Introduction of Supportive Engagement Video about Aoyama Zaisan Networks Co., Ltd.
9127：Tamai Steamship
18/Dec/2025 – Tamai Steamship: Subsequent Large Shareholding Related Report
20/Nov/2025 — Discontinuation of Tamai Steamship’s Takeover Response Policy
4/Nov/2025 – Tamai Steamship: Discussion with President Kiyozaki and Subsequent Large Shareholding Related Report
29/Sep/2025 – Large Shareholding Report and Letter to Tamai Steamship
9260：Nishimoto
17/Mar/2022 – Proposal for IR improvement to Nishimoto Co., Ltd.
18/Feb/2022 – Letter to Nishimoto Co., Ltd.
9401：TBS HOLDINGS
07/Jul/2024 – About AGM of TBS HOLDINGS
16/Jun/2024 – ISS Recommends Support for Hibiki’s Shareholder Proposals
14/May/2024 – Shareholder proposal for TBS HOLDINGS, INC
20/May/2023 – Engagement Explanation Video about TBS HOLDINGS, INC
9/May/2023 – Letter to TBS HOLDINGS, INC
9467：AlphaPolis
31/Jul/2025 ー AlphaPolis Announced Acquisition of WHITE FOX
26/Jun/2025 ー AlphaPolis’s Annual General Meeting of Shareholders
23/May/2025 – Commentary on AlphaPolis Co., Ltd.’s Earnings Announcement
27/Dec/2024 – Discussion with AlphaPolis Co., Ltd.
10/Mar/2024 – Proposal Letter to AlphaPolis Co.,Ltd.
9749 : FUJI SOFT
04/Dec/2022 – Yuya Shimizu assumed the position of Outside Director of FUJI SOFT
9842：Arcland Sakamoto
Late/Mar/2022 – Proposal for DOE Implementation to ARCLAND SAKAMOTO CO., LTD.
Newsletter | Member Only
Hibiki Investment News
Language:
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(日本語) 2022年4月19日 ー イハラサイエンス株式会社 パーカーハネフィンとの財務比較について
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(日本語) 2022年5月12日 ー 株式会社ナカニシ 書簡の送付について
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Message 2022 , …
(日本語) 2022年4月19日 ー イハラサイエンス株式会社 パーカーハネフィンとの財務比較について
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