Status of Shares
| Number of Authorized Shares | 300,000,000 shares |
| Number of Shares Issued | 154,531,953 shares |
| Number of Shareholders | 9,144 |
(As of March 31, 2020)
Major Shareholders
| Name | Number of Shares Held (thousands of shares) | Shareholding Ratio (％) |
| Hokuetsu Corporation | 36,447 | 24.0 |
| Daio Kaiun Co., Ltd. | 7,112 | 4.7 |
| The Iyo Bank, Ltd. | 7,072 | 4.7 |
| The Ehime Bank, Ltd. | 6,920 | 4.6 |
| Ehime Paper Manufacturing Co.Ltd. | 5,331 | 3.5 |
| Kami Shoji Co.Ltd | 4,700 | 3.1 |
| Japan Trustee Services Bank, Ltd. (Trust Account) | 4,136 | 2.7 |
| The Norinchukin Bank | 4,110 | 2.7 |
| The Master Trust Bank of Japan,Ltd（Trust Account） | 4,027 | 2.7 |
| Tokushu Tokai Paper Co., Ltd. | 3,871 | 2.5 |
| Total | 83,726 | 55.2 |
(As of March 31, 2020)
(Note)
1. Company names are literally translated.
2. The shares held by Japan Trustee Services Bank, Ltd. (Trust Account) and The Master Trust Bank of Japan,Ltd（Trust Account）are related to trust service.
3. Shareholding ratio does not include treasury stock（excluding the shares held by trust bank as Board Benefit Trust）.
Shareholder Distribution
(As of March 31, 2020)
