As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 15.75% |
|---|---|
| Individuals | 27.75% |
| Top 10 holders | 47.89% |
| Total shareholders | 5,177 |
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 | 28.04% | 93 |
| Individuals & others | 27.75% | 4,982 |
| Financial institutions | 27.07% | 14 |
| Foreign institutions | 15.75% | 61 |
| Securities firms | 1.36% | 16 |
| Foreign individuals | 0.04% | 11 |
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 | 東京産業洋紙株式会社 | 1,000,000 | 9.48% |
| 2 | 株式会社日本カストディ銀行(信託口) | 600,000 | 5.70% |
| 3 | 日本紙パルプ商事株式会社 | 518,000 | 4.91% |
| 4 | 株式会社四国銀行 | 506,000 | 4.80% |
| 5 | 株式会社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株式会社退職給付信託口) | 493,000 | 4.68% |
| 6 | 日本マスタートラスト信託銀行株式会社(信託口) | 430,000 | 4.08% |
| 7 | 株式会社日本カストディ銀行(三井住友信託銀行再信託分・王子製紙株式会社退職給付信託口) | 422,000 | 4.00% |
| 8 | 関日野出株式会社 | 390,000 | 3.70% |
| 9 | TMY株式会社 | 370,000 | 3.52% |
| 10 | BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS | 318,000 | 3.02% |
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.