As reported in the annual securities report, 2025-09-30.
| Foreign institutions | 1.31% |
|---|---|
| Individuals | 40.22% |
| Top 10 holders | 66.48% |
| Total shareholders | 26,499 |
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 | 49.41% | 164 |
| Individuals & others | 40.22% | 26,139 |
| Financial institutions | 8.26% | 7 |
| Foreign institutions | 1.31% | 39 |
| Securities firms | 0.66% | 19 |
| Foreign individuals | 0.14% | 131 |
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 | 株式会社チェンジホールディングス | 5,844,624 | 49.70% |
| 2 | 高谷 康久 | 661,904 | 5.63% |
| 3 | 日本マスタートラスト信託銀行株式会社(信託口) | 631,700 | 5.37% |
| 4 | 株式会社日本カストディ銀行(信託口) | 308,326 | 2.62% |
| 5 | 溝辺 裕 | 119,912 | 1.02% |
| 6 | MSIP CLIENT SECURITIES(常任代理人 モルガン・スタンレーMUFG証券株式会社) | 90,107 | 0.77% |
| 7 | 宮坂 誠 | 73,004 | 0.62% |
| 8 | イー・ガーディアン従業員持株会 | 30,300 | 0.26% |
| 9 | 佐々木 靖太 | 30,000 | 0.26% |
| 10 | 株式会社日本カストディ銀行(信託口4) | 27,600 | 0.23% |
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.