As reported in the annual securities report, 2025-09-30.
| Foreign institutions | 14.41% |
|---|---|
| Individuals | 41.64% |
| Top 10 holders | 43.56% |
| Total shareholders | 29,756 |
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 | 41.64% | 29,349 |
| Other corporations | 23.70% | 189 |
| Financial institutions | 18.23% | 16 |
| Foreign institutions | 14.41% | 114 |
| Securities firms | 1.96% | 22 |
| Foreign individuals | 0.06% | 66 |
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 | 公益財団法人古岡奨学会 | 5,555,000 | 13.41% |
| 2 | 日本マスタートラスト信託銀行株式会社(信託口) | 4,550,000 | 10.98% |
| 3 | 学研従業員持株会 | 1,214,000 | 2.93% |
| 4 | BNP PARIBAS LUXEMBOURG/2S/JASDEC/JANUS HENDERSON HORIZON FUND(常任代理人 香港上海銀行東京支店) | 1,202,000 | 2.90% |
| 5 | 株式会社三井住友銀行 | 1,200,000 | 2.89% |
| 6 | 株式会社河合楽器製作所 | 994,000 | 2.40% |
| 7 | 株式会社日本政策投資銀行 | 948,000 | 2.28% |
| 8 | 学研ビジネスパートナー持株会 | 913,000 | 2.20% |
| 9 | 株式会社日本カストディ銀行(信託口) | 793,000 | 1.91% |
| 10 | 株式会社広済堂ホールディングス | 689,000 | 1.66% |
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.