As reported in the annual securities report, 2025-12-31.
| Foreign institutions | 4.46% |
|---|---|
| Individuals | 77.95% |
| Top 10 holders | 57.85% |
| Total shareholders | 19,097 |
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 | 77.95% | 18,875 |
| Securities firms | 10.84% | 15 |
| Other corporations | 5.17% | 66 |
| Foreign institutions | 4.46% | 29 |
| Financial institutions | 1.14% | 3 |
| Foreign individuals | 0.45% | 109 |
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 | 株式会社山陰合同銀行 | 33,000,000 | 33.79% |
| 2 | JICベンチャー・グロース・ファンド1号投資事業有限責任組合 | 6,839,200 | 7.00% |
| 3 | 楽天証券株式会社共有口 | 5,699,800 | 5.83% |
| 4 | イナガワ ヒロキ | 5,489,937 | 5.62% |
| 5 | 日本郵政キャピタル株式会社 | 1,563,000 | 1.60% |
| 6 | 新井 友行 | 1,024,100 | 1.04% |
| 7 | 利根沢 正之 | 800,600 | 0.81% |
| 8 | GLOBAL SHARES EXECUTION SERVICES LIMITED CLIENT ASSET ACCOUNT MONSTARLAB(常任代理人 大和証券株式会社) | 755,750 | 0.77% |
| 9 | 株式会社SBI証券 | 687,644 | 0.70% |
| 10 | 株式会社山陰合同銀行(常任代理人 株式会社日本カストディ銀行) | 675,600 | 0.69% |
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.