Vector (TYO:6058) said its chairman and CEO Keiji Nishie sold about 13.1 million shares in two off-market transactions in December to asset manager Freeway Inc., cutting his stake to 12% from 40%, according to a Tuesday filing on the Tokyo Stock Exchange.
The move made Freeway the largest shareholder with 27.95%.
Shares of Vector rose almost 6% in Tokyo on Tuesday.
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