Lintec’s shares fell 3.7% to ¥5,520 on Friday after Nippon Paper Industries disclosed plans to sell approximately 17 million shares in the company, representing roughly ¥98 billion based on Thursday’s closing price.
The planned offering, which includes an overallotment option for up to 2.6 million additional shares, follows Nippon Paper’s announcement of its intention to reduce its stake in Lintec. The move is part of a broader trend among Japanese firms unwinding cross-shareholdings to improve capital efficiency, a strategy encouraged by corporate governance reforms on the Tokyo Stock Exchange’s Prime Market.
Despite the near-term pressure on Lintec’s stock, the company reported strong first-quarter financial results. For the period ended June 30, 2026, net sales reached ¥83.2 billion, while operating income rose 18.4% and profit attributable to shareholders surged 41.4%. Nippon Paper’s shares, however, advanced nearly 5% on Friday, while the Nikkei 225 index declined 0.3%.
