As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 2.57% |
|---|---|
| Individuals | 48.96% |
| Top 10 holders | 49.97% |
| Total shareholders | 2,527 |
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 | 48.96% | 2,417 |
| Other corporations | 39.19% | 57 |
| Financial institutions | 6.79% | 7 |
| Foreign institutions | 2.57% | 25 |
| Securities firms | 2.31% | 18 |
| Foreign individuals | 0.18% | 3 |
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 | 新生紙パルプ商事株式会社 | 1,812,000 | 18.81% |
| 2 | 昭和パックス株式会社 | 1,344,000 | 13.96% |
| 3 | サンエー化研社員持株会 | 346,000 | 3.59% |
| 4 | 日本マスタートラスト信託銀行株式会社 | 315,000 | 3.27% |
| 5 | みずほ信託銀行株式会社 | 300,000 | 3.11% |
| 6 | 株式会社東洋化学 | 300,000 | 3.11% |
| 7 | 山田 美千代 | 119,000 | 1.24% |
| 8 | 山本 明広 | 92,000 | 0.96% |
| 9 | 有限会社ウエッジ | 92,000 | 0.96% |
| 10 | 上田八木短資株式会社 | 92,000 | 0.96% |
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.