Nidec: the founder’s shares, Oasis and separate family ventures

analysisNidec’s shareholder register at 31 March 2026 lists Shigenobu Nagamori at 8.61%, Kyoto Bank at 4.32% and SN Kosan GK at 3.52%, calculated against issued shares excluding treasury stock. The ten largest registered entries together represent 34.17%. The same table includes custody and client accounts. Their registered balances do not establish the ultimate beneficial investors or imply that every named institution controls those shares for its own account. Different large-holding filings use different dates and denominators. ¹

analysisOasis Management Company Ltd., a Cayman Islands investment manager, reported 95,067,750 Nidec share-equivalents, or 7.97%, as of 9 September 2026 in a filing submitted on 16 September. The previous filing’s percentage was 6.78%. The position includes 95,067,725 shares and 25 depositary-receipt equivalents. This is a statutory holding disclosure by an asset manager, not a claim that all underlying assets belong beneficially to the manager. It is later than the March shareholder-register snapshot. ²

analysisOasis disclosed proposals concerning board composition, capital policy, possible delisting and a transaction that could put a third party above a majority of voting rights. It also described a conditional intention to increase its holding by more than five percentage points. These were disclosed proposals and intentions, with price, quantity, timing and possible regulatory approvals unresolved. They are not evidence of a completed takeover, delisting or later acquisition. ²

analysisNagamori left his executive chairman role on 19 December 2025 and became non-full-time chairman emeritus; he resigned that honorary position on 26 February 2026. The committee records that the weekly Nagamori–Kobe–Kishida meeting ceased after the December change. Departure from office is distinct from the March 2026 registered shareholding. The retained ownership table does not establish a subsequent sale. ^{1 3}

analysisOfficial corporate-number records identify SN Kosan GK as 8130002016189 and Minoreas Co., Ltd. as 2130001082824, with the same registered business address in Kyoto. Minoreas’s number record was updated on 21 August 2026. A shared registered address does not establish ownership. Corporate-number assignment or update is not automatically the legal incorporation date. A similarly named kabushiki kaisha is not merged with SN Kosan GK without evidence. ^{4 5}

analysisOctober 2026 reporting describes Minoreas as a new Nagamori family venture incorporated on 31 July for investment, acquisitions and corporate rehabilitation. A separate commercial database, which says it checked a registry extract on 2 October, lists Yoshihisa Kitao as representative director and Tomohiro Nagamori as director. The corporate-number service confirms identity and address, not those directorships or beneficial ownership. The underlying commercial-register extract was not retained. The media account describes Tomohiro as Shigenobu’s second son; its account of strategy relies partly on an unnamed financial-sector source. A staff member at the SN Kosan office told the publication that the interview request was declined. No transfer of Nidec assets to this venture, or responsibility for Nidec accounting misconduct, is established by these affiliations. ^{6 4 7}