Privee Zurich Turnaround Group Co. has become the largest stockholder in Hankyu Holdings Inc. through an acquisition of 5.01 percent of the firm's outstanding shares, according to a report filed with financial authorities Tuesday.
The Tokyo-based investment company, listed on the Tokyo Stock Exchange's second section, acquired 52.27 million shares of Hankyu Holdings for about 34.1 billion yen, according to the Privee Zurich report submitted to the Kanto Local Bureau of the Finance Ministry.
Its equity stake in Hankyu Holdings stands at 5.01 percent, eclipsing the 4.28 percent held as of the end of September by Japan Trusty Services Bank, then the top shareholder.