As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 12.70% |
|---|---|
| Individuals | 12.99% |
| Top 10 holders | 50.91% |
| Total shareholders | 7,534 |
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 |
|---|---|---|
| Other corporations | 36.86% | 363 |
| Financial institutions | 34.60% | 39 |
| Individuals & others | 12.99% | 6,907 |
| Foreign institutions | 12.70% | 166 |
| Securities firms | 2.83% | 35 |
| Foreign individuals | 0.01% | 22 |
| Government | 0.00% | 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 | 大王製紙㈱ | 27,932,000 | 17.51% |
| 2 | 日本マスタートラスト信託銀行㈱(信託口) | 12,122,000 | 7.60% |
| 3 | ㈱第四北越銀行 | 8,332,000 | 5.22% |
| 4 | 北越コーポレーション持株会 | 7,193,000 | 4.51% |
| 5 | ㈱日本カストディ銀行(金銭信託課税口) | 6,066,000 | 3.80% |
| 6 | OASIS JAPAN STRATEGIC FUND LTD.(常任代理人 シティバンク、エヌ・エイ東京支店) | 5,615,000 | 3.52% |
| 7 | 損害保険ジャパン㈱ | 4,499,000 | 2.82% |
| 8 | 農林中央金庫 | 3,554,000 | 2.23% |
| 9 | 新生紙パルプ商事㈱ | 3,070,000 | 1.92% |
| 10 | ㈱日本カストディ銀行(三井住友信託銀行再信託分・王子マネジメントオフィス㈱退職給付信託口) | 2,835,000 | 1.78% |
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.