Hibiki Path Advisors SPC filed a Large Shareholding Report (Japanese only) on January 26, disclosing that our ownership in Fujikura Composites Inc. (the “Company”) has reached 5.13%, on both an outstanding share basis and a treasury-share-adjusted basis¹.
As the Company undertakes structural reform and pursues growth in sports equipment, we acknowledge the efforts of management, employees, and long-term shareholders supporting these initiatives.
We expect these efforts to result in tangible corporate value shared by all stakeholders, and we will continue our engagement with the Company in a constructive yet firm manner.
¹ as of December 1, 2025 (with no treasury shares held as of that date)(Japanese Only)
(Our History of Engagement with Fujikura Composites)
26/Dec/2025 – Fujikura Composite’s Share Repurchase Announcement
5/Dec/2025 – Comments on Fujikura Composite 2Q Earnings Briefing
14/Nov/2025 – Submission of Our Proposal for Fujikura Composites
This letter does not constitute, and shall not be construed as, any proposal, solicitation, marketing, advertisement, inducement, or representation with respect to any service or product, nor does it constitute advice regarding the purchase or sale of any investment product or any type of investment, the making of any investment, the entering into of any transaction, or the refraining from any action (whether or not any terms or conditions are stated herein), and does not express any opinion regarding the merits of any particular investment or investment strategy. Any examples of strategies or transactions are provided solely for explanatory purposes and do not represent past or future strategies or performance, nor do they indicate the likelihood of success of any particular strategy. Furthermore, this letter does not constitute investment, financial, legal, tax, or any other professional advice.
This letter has been prepared based on publicly available information (which we have not independently verified) and does not purport to be complete, timely, or comprehensive.
We do not intend, either directly or indirectly, including through other shareholders, to propose at any shareholders’ meeting of Fujikura Composites ( Fujikura Composites Kabushiki Kaisha) the transfer or disposal of the business or assets of Fujikura Composites or any of its group companies. In addition, we do not have any intention to engage in any conduct that would make the continuous and stable operation of the business of Fujikura Composites or its group companies difficult.