What is Dalton Investments buying in Japan next?
Dalton Investments (US) discloses its Japanese stakes under Japan’s own regime, EDINET large-shareholding reports (大量保有報告書), the side a US 13F is blind to. Japan is also the one market where a prediction is checkable almost immediately: the report is due within about five business days of crossing 5%, not the US 13F’s 45. Research, not investment advice.
Predicted next buys
P(this fund adds the name next), from the per-investor walk-forward model, out-of-sample AUC ~87%. A predicted probability is a statement about a filing pattern, never a claim the fund has bought a name or that you should.
| Company | P(add next) | Stake | Signal | Next filing due |
|---|---|---|---|---|
| センコーグループホールディングス株式会社 (9069) | 70% | 9.5% | activist | 2026-09-01 |
| マクニカホールディングス株式会社 (3132) | 42% | 8.2% | activist | 2026-09-01 |
Currently disclosed Japanese holdings
From Dalton Investments’s latest EDINET 5% filings. Stake is the disclosed large-shareholding percentage.
| Issuer | Stake | Purpose | As of |
|---|---|---|---|
| アニコム ホールディングス株式会社 (8715) | 13.8% | activist implied | 2026-01-20 |
| 株式会社鶴見製作所 (6351) | 13.7% | activist implied | 2026-06-11 |
| アイザワ証券グループ株式会社 (8708) | 9.7% | activist implied | 2022-04-04 |
| センコーグループホールディングス株式会社 (9069) | 9.5% | activist implied | 2026-01-28 |
| ステラケミファ株式会社 (4109) | 9.4% | activist implied | 2021-06-04 |
| マクニカホールディングス株式会社 (3132) | 8.2% | activist implied | 2026-03-11 |
| 江崎グリコ株式会社 (2206) | 8.2% | activist implied | 2025-04-11 |
| リンナイ株式会社 (5947) | 6.3% | activist implied | 2026-01-23 |
| ポールトゥウィン・ピットクルーホールディングス株式会社 (3657) | 6.1% | activist implied | 2021-12-02 |
| あいホールディングス株式会社 (3076) | 6.0% | activist implied | 2025-09-11 |
| 株式会社ホギメディカル (3593) | 5.4% | activist implied | 2023-06-02 |
| ニッタ株式会社 (5186) | 5.1% | activist implied | 2023-09-27 |
| 株式会社イワキ (6237) | 5.0% | activist implied | 2023-11-09 |
| トランコム株式会社 (9058) | 5.0% | activist implied | 2023-02-14 |
| トーセイ株式会社 (8923) | 5.0% | activist implied | 2025-05-29 |
The predicted next buys, fresh disclosures, and the week’s catalysts. One email a week. Honest numbers, never advice.
The full Japan board, predicted and disclosed, is on Japan. How the model works and its honest limits are on methodology. Data as of 2026-01-20. Research, not investment advice, see the disclaimer.