Status of Shares
| Number of Authorized Shares | 300,000,000 shares |
| Number of Shares Issued | 169,012,926 shares |
| Number of Shareholders | 74,487 |
(As of March 31,2026)
Major Shareholders
| Name | Number of Shares Held (thousands of shares) | Shareholding Ratio (％) |
| Hokuetsu Corporation | 30,589 | 19.7 |
| The Master Trust Bank of Japan ,Ltd. | 12,151 | 7.8 |
| DAIO KAIUN CO.,LTD. | 11,162 | 7.2 |
| Custody Bank of Japan, Ltd. | 7,302 | 4.7 |
| THE IYO BANK,LTD. | 7,072 | 4.6 |
| The Ehime Bank,Ltd. | 6,920 | 4.5 |
| EHIME PAPER MFG CO.,LTD. | 5,331 | 3.4 |
| Kamisyoji Corporation | 4,700 | 3.0 |
| Hyogo Paper Manufacturing | 3,179 | 2.0 |
| Hyogo Pulp Co., Ltd. | 2,752 | 1.8 |
| Total | 91,162 | 58.7 |
(As of March 31,2026)
(Note)
1. The number of shares held by The Master Trust Bank of Japan, Ltd. (Trust Account) and Custody Bank of Japan, Ltd. (Trust Account) represents shares held in trust.
2. The Company holds 13,624,808 shares of treasury stock, which are excluded from the list of major shareholders above. Treasury stock excludes shares held by trust banks under share delivery trusts.
3. Shareholding ratios are calculated excluding treasury stock.
Shareholder Distribution
(As of March 31,2026)
