Hibiki Path Advisors (from January 2026, Hibiki Path Advisors SPC; collectively, “we”, “our”) filed a Revised Large Shareholding Report (Japanese only) on April 1st, disclosing that our ownership in FUJIKURA COMPOSITES Inc. (the “Company”) has reached 7.41% on an outstanding share basis (7.51%¹ on a treasury-share-adjusted basis).
We expect that, at the time of the full-year results announcement or investor briefing in May or June this year, the Company will provide: (i) a clear roadmap to achieve the 60% equity ratio target set out in the mid-term plan by FY3/28, and (ii) an appropriately ambitious ROE target that reflects both progress in capital policy and improvements in underlying profitability.
As the Company navigates the structural reform of its industrial materials and coated fabrics business while capturing growth opportunities in sports equipment business, we appreciate the leadership of management, the dedication of employees, and the continued support of shareholders. We look forward to seeing these efforts translate into tangible corporate value improvement shared by all stakeholders, and we will continue our engagement in a constructive yet firm manner.
(Our History of Engagement)
26/Jan/2026 – Fujikura Composites: Large Shareholding Report
December 26, 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
¹as of February 28, 2026 (with 254,253 treasury shares held as of that date) (Japanese Only)
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This post 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 Inc.) 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.