As reported in the annual securities report, 2025-12-31.
| Foreign institutions | 15.85% |
|---|---|
| Individuals | 35.95% |
| Top 10 holders | 67.28% |
| Total shareholders | 19,779 |
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 | 39.39% | 131 |
| Individuals & others | 35.95% | 19,394 |
| Foreign institutions | 15.85% | 110 |
| Financial institutions | 6.46% | 10 |
| Securities firms | 2.25% | 22 |
| Foreign individuals | 0.10% | 112 |
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 | 株式会社ヒラノ・アソシエイツ | 13,140,700 | 37.63% |
| 2 | UH Partners 2投資事業有限責任組合 | 2,644,900 | 7.57% |
| 3 | 光通信KK投資事業有限責任組合 | 2,417,300 | 6.92% |
| 4 | 日本マスタートラスト信託銀行株式会社(信託口) | 1,414,400 | 4.05% |
| 5 | UH Partners 3投資事業有限責任組合 | 915,700 | 2.62% |
| 6 | STATE STREET BANK AND TRUST COMPANY 505044(常任代理人 株式会社みずほ銀行決済営業部) | 901,230 | 2.58% |
| 7 | エスアイエル投資事業有限責任組合 | 801,100 | 2.29% |
| 8 | INTERACTIVE BROKERS LLC(常任代理人 インタラクティブ・ブローカーズ証券株式会社) | 428,000 | 1.23% |
| 9 | MSIP CLIENT SECURITIES(常任代理人 モルガン・スタンレーMUFG証券株式会社) | 426,001 | 1.22% |
| 10 | 大和証券株式会社 | 407,721 | 1.17% |
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.