As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 4.00% |
|---|---|
| Individuals | 65.76% |
| Top 10 holders | 49.86% |
| Total shareholders | 5,292 |
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 | 65.76% | 5,178 |
| Other corporations | 25.59% | 43 |
| Foreign institutions | 4.00% | 16 |
| Securities firms | 3.09% | 15 |
| Financial institutions | 1.08% | 2 |
| Foreign individuals | 0.47% | 38 |
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 | 2,585,000 | 18.80% |
| 2 | 株式会社E.T. | 1,340,000 | 9.75% |
| 3 | 時津 孝康 | 1,327,400 | 9.65% |
| 4 | 齋藤 将平 | 286,400 | 2.08% |
| 5 | 福留 大士 | 247,800 | 1.80% |
| 6 | BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCT E PSMPJ(常任代理人 株式会社三菱UFJ銀行) | 237,500 | 1.72% |
| 7 | 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) | 229,200 | 1.66% |
| 8 | 楽天証券株式会社共有口 | 215,800 | 1.57% |
| 9 | 近藤 宏治 | 206,000 | 1.49% |
| 10 | 竹田 大朗 | 185,500 | 1.34% |
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.