As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 3.14% |
|---|---|
| Individuals | 29.50% |
| Top 10 holders | 58.30% |
| Total shareholders | 1,122 |
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 | 48.48% | 38 |
| Individuals & others | 29.50% | 1,036 |
| Financial institutions | 16.16% | 8 |
| Foreign institutions | 3.14% | 25 |
| Securities firms | 2.72% | 14 |
| Foreign individuals | 0.00% | 1 |
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 | 株式会社サンエー化研 | 846,000 | 19.30% |
| 2 | 新生紙パルプ商事株式会社 | 837,000 | 19.10% |
| 3 | 日本証券金融株式会社 | 210,000 | 4.80% |
| 4 | 株式会社三菱UFJ銀行 | 135,000 | 3.10% |
| 5 | 特種東海製紙株式会社 | 130,000 | 3.00% |
| 6 | 松井証券株式会社 | 109,000 | 2.50% |
| 7 | 株式会社みずほ銀行 | 80,000 | 1.80% |
| 8 | 農林中央金庫 | 75,000 | 1.70% |
| 9 | 株式会社鹿児島銀行 | 70,000 | 1.60% |
| 10 | 昭和パックス社員持株会 | 63,000 | 1.40% |
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.