As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 28.85% |
|---|---|
| Individuals | 27.79% |
| Top 10 holders | 55.61% |
| Total shareholders | 3,241 |
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 |
|---|---|---|
| Foreign institutions | 28.85% | 180 |
| Individuals & others | 27.79% | 2,913 |
| Other corporations | 24.13% | 103 |
| Financial institutions | 18.30% | 17 |
| Securities firms | 0.88% | 20 |
| Foreign individuals | 0.05% | 7 |
| Government | 0.00% | 1 |
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 | 協同興業株式会社 | 5,537,000 | 15.59% |
| 2 | INTERTRUST TRUSTEES CAYMAN LIMITED AS TRUSTEE OF JAPAN-UP UNIT TRUST(常任代理人 立花証券株式会社) | 3,420,000 | 9.63% |
| 3 | 日本マスタートラスト信託銀行株式会社(信託口) | 3,024,000 | 8.52% |
| 4 | INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLEL Y IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP(常任代理人 株式会社みずほ銀行決済営業部) | 3,018,000 | 8.50% |
| 5 | 株式会社日本カストディ銀行(信託口) | 999,000 | 2.81% |
| 6 | 山洋開発株式会社 | 956,000 | 2.69% |
| 7 | 日本生命保険相互会社 | 896,000 | 2.52% |
| 8 | 株式会社みずほ銀行 | 682,000 | 1.92% |
| 9 | GOVERNMENT OF NORWAY(常任代理人 シティバンク、エヌ・エイ東京支店) | 631,000 | 1.78% |
| 10 | 株式会社八十二長野銀行 | 585,000 | 1.65% |
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.