As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 21.88% |
|---|---|
| Individuals | 38.66% |
| Top 10 holders | 35.27% |
| Total shareholders | 195,492 |
How to read this: each slice is a group of investors. Foreign and financial institutions are professional money; individuals are retail shareholders; other corporations are usually business partners holding strategic stakes. A large institutional slice generally means heavier analyst coverage and more trading volume.
How to read this: each line shows how one investor group's share has moved over recent years. A rising foreign or institutional line can signal growing professional interest; a falling one the opposite. Japanese companies disclose ownership once a year, so these are annual points — read the direction over several years rather than a single step.
| Investor category | Holding % | Shareholders |
|---|---|---|
| Individuals & others | 38.66% | 193,545 |
| Financial institutions | 31.05% | 53 |
| Foreign institutions | 21.88% | 187 |
| Other corporations | 5.95% | 1,052 |
| Securities firms | 2.34% | 29 |
| Foreign individuals | 0.11% | 624 |
| Government | 0.02% | 2 |
How to read this: a high foreign or institutional share often means the stock is widely researched and more liquid; a high individual share means retail investors hold most of the company. Percentages are of voting units.
| S.No. | Shareholder | Shares | Stake % |
|---|---|---|---|
| 1 | 日本マスタートラスト信託銀行株式会社(信託口) (注)1 | 13,377,700 | 11.55% |
| 2 | 株式会社日本カストディ銀行(信託口) (注)1 | 7,993,700 | 6.90% |
| 3 | 日本製紙従業員持株会 | 3,054,429 | 2.64% |
| 4 | ステート ストリート バンク アンド トラストカンパニー505223(常任代理人 株式会社みずほ銀行) | 3,025,743 | 2.61% |
| 5 | 日本製紙取引先持株会 | 2,684,800 | 2.32% |
| 6 | 野村 絢(常任代理人 三田証券株式会社) | 2,476,300 | 2.14% |
| 7 | 日本生命保険相互会社 | 2,473,165 | 2.13% |
| 8 | 大樹生命保険株式会社 | 2,258,900 | 1.95% |
| 9 | ステート ストリート バンク アンド トラストカンパニー505001(常任代理人 株式会社みずほ銀行) | 1,912,340 | 1.65% |
| 10 | INTERACTIVE BROKERS LLC(常任代理人 インタラクティブ・ブローカーズ証券株式会社) | 1,601,415 | 1.38% |
Trust banks such as Master Trust and Custody Bank appear at the top of most Japanese registers: they hold shares on behalf of many underlying funds rather than owning them outright.