RWWM Discloses Nearly Quarter Ownership of Daily Journal Corp.

Rhea-AI Filing Summary

Schedule 13G/A (Am. 16) for Daily Journal Corp. (DJCO) discloses that RWWM, Inc., a California-based investment adviser, and related parties collectively beneficially own 334,902 DJCO common shares, or 24.31 % of the outstanding class as of 30 Jun 2025.

Break-down of voting and dispositive powers:

• RWWM, Inc.: 0 voting / 334,902 sole dispositive
• RWWM Inc. 401(k) Plan: 7,802 shared voting (0.57 %)
• Scott P. Roseman: 6,130 sole + 7,802 shared voting
• Aaron J. Wagner: 2,519 sole + 7,802 shared voting
• Roseman Wagner Partners, L.P.: 24,986 sole voting & dispositive (1.81 %)

Although RWWM controls disposal of nearly a quarter of DJCO shares, it reports no voting power, indicating holdings are managed on behalf of advisory clients. The signatories certify that the securities are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Positive

• RWWM, Inc. has accumulated a significant 24.31 % economic stake, signalling sustained institutional confidence in Daily Journal Corp.

Negative

• The filer reports no voting power over its 334,902 shares, limiting shareholder voice despite high economic exposure, and posing potential liquidity overhang if shares are sold.

Insights

Securities Analyst

TL;DR Large 24 % stake revealed; disposal power high, voting power nil—likely neutral for governance but watch liquidity risk.

The filing shows RWWM, Inc. commands the ability to sell almost one-quarter of DJCO shares, which could influence share-price volatility if positions are trimmed. However, because the firm has no voting rights, immediate governance impact appears limited. The certification that holdings are not meant to affect control supports a neutral-to-moderate reading for investors. Still, concentrated ownership heightens liquidity considerations for a micro-cap like DJCO.

Corporate Governance Expert

TL;DR Concentrated dispositional control without voting rights reduces takeover risk but increases single-manager exposure.

RWWM’s dispositive authority over 24 % of outstanding shares gives it potential economic leverage, yet the absence of voting power keeps formal influence over board matters minimal. For minority shareholders, this structure mitigates fear of a stealth control bid but simultaneously concentrates exit-risk in one adviser’s trading decisions. Governance outlook remains neutral unless ownership intent changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 16)

DAILY JOURNAL CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

233912104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 233912104

1

Names of Reporting Persons

RWWM, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 334,902.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

334,902.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

24.31 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 233912104

1

Names of Reporting Persons

RWWM Inc. 401(k) Profit Sharing Plan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,802.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,802.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.57 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

CUSIP No. 233912104

1

Names of Reporting Persons

Scott P. Roseman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,130.00
6	Shared Voting Power 7,802.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 334,902.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

334,902.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

24.31 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 233912104

1

Names of Reporting Persons

Aaron J. Wagner

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,519.00
6	Shared Voting Power 7,802.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 334,902.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

334,902.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

24.31 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 233912104

1

Names of Reporting Persons

Roseman Wagner Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 24,986.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 24,986.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,986.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.81 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DAILY JOURNAL CORP
(b)	Address of issuer's principal executive offices: 915 EAST FIRST STREET, LOS ANGELES, CALIFORNIA 90012
Item 2.
(a)	Name of person filing: RWWM, Inc. RWWM Inc. 401(k) Profit Sharing Plan Scott P. Roseman Aaron J. Wagner Roseman Wagner Partners, L.P.
(b)	Address or principal business office or, if none, residence: 4970 ROCKLIN ROAD, SUITE 200 Rocklin, California 95677
(c)	Citizenship: RWWM, Inc. - CALIFORNIA RWWM Inc. 401(k) Profit Sharing Plan - CALIFORNIA Scott P. Roseman - UNITED STATES Aaron J. Wagner - UNITED STATES Roseman Wagner Partners, L.P. - DELAWARE
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 233912104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 334,902
(b)	Percent of class: 24.31 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: RWWM, Inc. - 0 RWWM Inc. 401(k) Profit Sharing Plan - 0 Scott P. Roseman - 6,130 Aaron J. Wagner - 2,519 Roseman Wagner Partners, L.P. - 24,986
	(ii) Shared power to vote or to direct the vote: RWWM, Inc. - 0 RWWM Inc. 401(k) Profit Sharing Plan - 7,802 Scott P. Roseman - 7,802 Aaron J. Wagner - 7,802 Roseman Wagner Partners, L.P. - 0
	(iii) Sole power to dispose or to direct the disposition of: RWWM, Inc. - 334,902 RWWM Inc. 401(k) Profit Sharing Plan - 0 Scott P. Roseman - 0 Aaron J. Wagner - 0 Roseman Wagner Partners, L.P. - 24,986
	(iv) Shared power to dispose or to direct the disposition of: RWWM, Inc. - 0 RWWM Inc. 401(k) Profit Sharing Plan - 0 Scott P. Roseman - 334,902 Aaron J. Wagner - 334,902 Roseman Wagner Partners, L.P. - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The securities as to which this Schedule is filed by RWWM, Inc., in its capacity as investment adviser, are owned of record by clients of RWWM, Inc. Those clients have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RWWM, Inc.

Signature:	Aaron J. Wagner
Name/Title:	President
Date:	07/31/2025

RWWM Inc. 401(k) Profit Sharing Plan

Signature:	Aaron J. Wagner
Name/Title:	Trustee
Date:	07/31/2025

Scott P. Roseman

Signature:	Scott P. Roseman
Name/Title:	Chairman - Senior Portfolio Manager
Date:	07/31/2025

Aaron J. Wagner

Signature:	Aaron J. Wagner
Name/Title:	President
Date:	07/31/2025

Roseman Wagner Partners, L.P.

Signature:	Aaron J. Wagner
Name/Title:	Manager
Date:	07/31/2025

FAQ

How many Daily Journal (DJCO) shares does RWWM, Inc. now own?

The group reports beneficial ownership of 334,902 shares, representing 24.31 % of outstanding common stock.

Does RWWM, Inc. have voting control over its DJCO stake?

No. The adviser discloses 0 shares with sole or shared voting power; its authority is limited to disposition.

Who signed the Schedule 13G/A filing for DJCO?

Aaron J. Wagner (President/Trustee) and Scott P. Roseman (Chairman, Senior Portfolio Manager) signed on 31 Jul 2025.

Why was this Schedule 13G/A filed?

Because the reporting persons’ ownership exceeded the 5 % threshold, requiring disclosure under Rule 13d-1; this amendment updates holdings as of 30 Jun 2025.

Are the shares held to influence control of Daily Journal Corp.?

The certification states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.