As reported in the annual securities report, 2026-03-31.
| Foreign institutions | 0.02% |
|---|---|
| Individuals | 47.91% |
| Top 10 holders | 40.99% |
| Total shareholders | 1,737 |
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 | 49.47% | 155 |
| Individuals & others | 47.91% | 1,567 |
| Financial institutions | 2.50% | 3 |
| Securities firms | 0.09% | 7 |
| Foreign institutions | 0.02% | 4 |
| Foreign individuals | 0.01% | 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 | 特種東海製紙株式会社 | 814,000 | 8.80% |
| 2 | 平和紙業取引先持株会 | 659,000 | 7.13% |
| 3 | 王子エフテックス株式会社 | 519,000 | 5.61% |
| 4 | 日本製紙株式会社 | 313,000 | 3.39% |
| 5 | 北越コーポレーション株式会社 | 306,000 | 3.31% |
| 6 | 富士共和製紙株式会社 | 282,000 | 3.06% |
| 7 | 東京製紙株式会社 | 253,000 | 2.74% |
| 8 | 小島 勝正 | 234,000 | 2.53% |
| 9 | 清家 義雄 | 206,000 | 2.23% |
| 10 | 株式会社Kasuga | 202,000 | 2.19% |
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.