HIKARI BUSINESS FORM CO.,LTD.

3948 TSE Materials Pulp and Paper
TSE Standard

Shareholding pattern

As reported in the annual securities report, 2025-12-31.

Foreign institutions13.24%
Individuals57.71%
Top 10 holders49.89%
Total shareholders2,105

Who owns the company

Share of voting units
Individuals & others: 57.71%Other corporations: 23.62%Foreign institutions: 13.24%Financial institutions: 3.65%Securities firms: 1.67%Foreign individuals: 0.1%57.7%Individuals & others
Individuals & others 57.71%Other corporations 23.62%Foreign institutions 13.24%Financial institutions 3.65%Securities firms 1.67%Foreign individuals 0.1%

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.

Ownership Trend

Holding %, recent years
020406080FY22FY23FY24FY25FY2022 — Foreign institutions: 6 %FY2023 — Foreign institutions: 6 %FY2024 — Foreign institutions: 7 %FY2025 — Foreign institutions: 13 %FY2022 — Financial institutions: 4 %FY2023 — Financial institutions: 4 %FY2024 — Financial institutions: 11 %FY2025 — Financial institutions: 4 %FY2022 — Individuals: 64 %FY2023 — Individuals: 64 %FY2024 — Individuals: 54 %FY2025 — Individuals: 58 %FY2022 — Other corporations: 24 %FY2023 — Other corporations: 24 %FY2024 — Other corporations: 24 %FY2025 — Other corporations: 24 %FY2022 — Securities firms: 2 %FY2023 — Securities firms: 3 %FY2024 — Securities firms: 5 %FY2025 — Securities firms: 2 %
Foreign institutionsFinancial institutionsIndividualsOther corporationsSecurities firms

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.

Ownership detail

Investor categoryHolding %Shareholders
Individuals & others57.71%2,019
Other corporations23.62%39
Foreign institutions13.24%23
Financial institutions3.65%5
Securities firms1.67%14
Foreign individuals0.10%5

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.

Largest shareholders

S.No.ShareholderSharesStake %
1ESG投資事業組合581,00010.79%
2内外カーボンインキ㈱550,00010.22%
3THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED・HONG KONG PRIVATE BANKING DIVISION CLIENT A/C 8028・394841(常任代理人 香港上海銀行東京支店)332,0006.17%
4村上 文江255,0004.73%
5LNS MANAGEMENT PTE.LTD.(常任代理人 立花証券㈱)245,0004.55%
6瀬戸 政春174,0003.23%
7光ビジネスフォーム従業員持株会155,0002.89%
8エム・ビー・エス㈱141,0002.63%
9㈱日本カストディ銀行(信託口)130,0002.41%
10㈱ミヤコシ122,0002.27%

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.

Educational data only. Not a recommendation to buy, sell or hold any security.