How are CTW (CTW) Class B ordinary shares related to Class A shares?

CTW Cayman’s Class B ordinary shares are immediately convertible into Class A ordinary shares on a one-share-for-one-share basis. This means each Class B share can be exchanged for one Class A share without any stated waiting period or additional conditions.

CTW CEO discloses major shareholdings

CTW Cayman director and Chief Executive Officer Sasaki Ryuichi has filed a Form 3 reporting his beneficial ownership of the company’s ordinary shares through CTW (BVI) LTD.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

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Form Type

Rhea-AI Filing Summary

CTW Cayman director and Chief Executive Officer Sasaki Ryuichi has filed a Form 3 reporting his beneficial ownership of the company’s ordinary shares through CTW (BVI) LTD.

He indirectly holds 48,000,000 Class A ordinary shares and 12,000,000 Class B ordinary shares. The Class B ordinary shares are immediately convertible into Class A ordinary shares on a one-for-one basis.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Sasaki Ryuichi

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Class A ordinary shares	--	--	--
holding	Class B ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 48,000,000 shares (Indirect, By CTW (BVI) LTD); Class B ordinary shares — 12,000,000 shares (Indirect, By CTW (BVI) LTD)

Footnotes (2)

F1. Class B Ordinary Shares are immediately convertible into Class A Ordinary Shares on a one share for one share basis.
F2. The reporting person owns 100% of the equity interest of CTW (BVI) LTD.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider ownership does CTW (CTW) CEO Sasaki Ryuichi report on this Form 3?

Sasaki Ryuichi reports indirect beneficial ownership of CTW Cayman through CTW (BVI) LTD, holding 48,000,000 Class A ordinary shares and 12,000,000 Class B ordinary shares. These figures describe his reported equity stake at the time of the filing.

Are CTW (CTW) shares held by the CEO directly or indirectly?

The shares are reported as held indirectly. The Form 3 lists ownership as "By CTW (BVI) LTD", and notes that Sasaki Ryuichi owns 100% of the equity interest of CTW (BVI) LTD, giving him beneficial ownership through that entity.

Does this CTW (CTW) Form 3 show any insider buying or selling activity?

The Form 3 presents holdings rather than transactions, with entries labeled as indirect ownership of Class A and Class B ordinary shares. No purchase or sale prices, transaction codes, or share amounts bought or sold are reported in the provided data.

What roles does Sasaki Ryuichi hold at CTW (CTW) according to this filing?

According to the filing data, Sasaki Ryuichi is both a director and an officer of CTW Cayman, serving as Chief Executive Officer. He is also identified as a ten percent owner, reflecting his substantial reported beneficial ownership position in the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 01:02 PM EDT

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Sasaki Ryuichi

(Last)

(First)

(Middle)

29F, 1 CHOME-9-10, ARK HILLS SENGOKUYAMA

MORI TOWER, ROPPONGI, MINATO CITY

(Street)

TOKYO

106-0032

(City)

(State)

(Zip)

JAPAN

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
CTW Cayman [ CTW ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	48,000,000	I	By CTW (BVI) LTD⁽²⁾
Class B ordinary shares	12,000,000⁽¹⁾	I	By CTW (BVI) LTD⁽²⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Class B Ordinary Shares are immediately convertible into Class A Ordinary Shares on a one share for one share basis.

2. The reporting person owns 100% of the equity interest of CTW (BVI) LTD.

	/s/ Ryuichi Sasaki	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR