The chairman of Don Quijote has finally transferred all personally held shares to a Dutch asset-management company.

Overview of the Transferee Details
Trade name DQ Windmolen B.V.
Location Amsterdam, Kingdom of the Netherlands
Representatives Two directors (names not published)
Business Holding and management of financial assets, etc.
Number of shares transferred 7,592,000 shares (4.80% of the voting rights of all shareholders)
Date of sale and purchase (settlement date) January 22, 2016
Holder Number of shares held before transfer (percentage of the number of voting rights of all shareholders) Number of shares held after transfer (percentage of the number of voting rights of all shareholders)
The company's chairman (individual) 7,592,000 shares (4.80%) 0 shares (—%)
DQ Windmolen B.V. 7,915,000 shares (5.00%) 15,507,000 shares (9.80%)

The percentages of voting rights of all shareholders are rounded down to two decimal places.

The chairman's personal shareholding has now fallen to zero.

DQ Windmolen B.V. is an asset-management company indirectly owned 100% by the company's chairman.

Indirectly owned means something like individual → asset-management company A → (asset-management company B) → DQ Windmolen, I suppose.

By the way, Windmolen means windmill. Perhaps that is a reference to the Netherlands. “Donki Windmill” is quite a name. B.V. is the equivalent of a stock company in Japan. It was established on September 9, 2015. The date also seems chosen with care.

Since the introduction of the exit tax, transferring assets overseas has ceased to be worthwhile.

The aim in this case is probably not so much tax savings as pooling dividends in the Netherlands tax-free while diversifying assets globally to avoid risk.

Don Quijote has had various problems, but it is a company that has increased both revenue and profit for 27 consecutive fiscal years. It is one of the truly outstanding companies.

The chairman’s successor must feel enormous pressure to keep that run of revenue and profit growth going.