Shares of Harmonic Drive Systems (TYO:6324) fell 7.2% after the company said Koden Holdings holds a 35.28% voting stake but does not control its operations, according to a Thursday filing on the Tokyo Stock Exchange.
Koden, which operates through subsidiaries such as Koden Electronics and Tokyo Aircraft Instrument, focuses on electronics and instrumentation, while Harmonic Drive manufactures precision motion control components like actuators and speed reducers.
The two groups operate independently, with minimal business transactions and no personnel overlap.
The company added that it has no controlling shareholder, no significant transactions with Koden, and no plans for changes to their relationship.
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