Who Still Holds Whom
SubjectToyota 7203 · Mitsubishi Corporation 8058 · MUFG 8306 · Kyocera 6971 · Nippon Steel 5401
Every listed company's annual securities report carries a section on shares held for purposes other than pure investment — the cross-shareholdings that a decade of governance reform has asked boards to justify or sell. In the June 2026 reports of thirty-five of the largest filers, twenty-two list fewer listed issuers than a year earlier. Toyota lists 34, MUFG Bank 773, Kyocera 7 — one of them ¥1,530,971 million (US$9,347 million) of KDDI — and Nippon Steel 68, one more than before. The column that asks whether the issuer holds the filer's shares in return reads 有 on both sides of the Toyota–KDDI and Toyota–NTT lines, and of the Toyota–MUFG line that runs through MUFG Bank.
The heading is 【株式の保有状況】 — the state of shareholdings — and it sits in 第４【提出会社の状況】, the fourth section of Part I of the Japanese annual securities report, inside the corporate governance item. It asks the filer to divide its investment shares into those held purely for investment and those held for any other purpose: 政策保有株式, the policy or strategic holdings that Principle 1.4 of the Corporate Governance Code asks boards to examine and explain, and that most English-language readers know as cross-shareholdings. For the second group the section prints three things: the holding policy and the board's verification of it; a count of issuers and a balance-sheet amount, split between unlisted shares and listed shares; and a table of 特定投資株式 — named issuers, with share counts and carrying amounts for this year and last, the reason for holding, and a final column asking whether the issuer holds the filer's shares in return — headed 当社の株式の保有の有無 in most tables, ＭＵＦＧの株式の保有の有無 in MUFG Bank's. Deemed holdings (みなし保有株式), typically shares in a retirement benefit trust over which the filer keeps the power to direct votes, are tabled separately.
This desk read the count table in thirty-five of the largest filers' June 2026 reports and in the same companies' June 2025 reports, and the named tables in five of them. Twenty-two of the thirty-five list fewer listed issuers (非上場株式以外の株式) than a year earlier, eight list the same number, four list more, and one, SoftBank Group, states in both years that it holds no shares for purposes other than pure investment, so that the tables it prints are of pure-investment shares. The longest lists belong to the banks, which the three financial groups report through their principal bank as the group company with the largest carrying amount: MUFG Bank 773 listed issuers, down from 899; Sumitomo Mitsui Banking Corporation 663, from 785; Mizuho Bank 614, from 693. Outside the banks the longest lists are Nippon Steel's 68, ITOCHU's 65, Mitsui & Co.'s 64 and Daikin's 62; the shortest are Advantest's 1, HOYA's 2 and Tokyo Electron's 3.
Toyota lists 34 listed issuers at March 31, 2026 — the same count as a year earlier, though not the same list — carried at ¥3,237,498 million (US$19,765 million) against ¥2,951,382 million (US$18,018 million), and 80 unlisted issuers against 81. The policy passage prints its own series: 148 issuers, 53 of them listed, at the end of March 2022, and 114, 34 of them listed, at the end of March 2026, with deemed holdings down from 31 to none. During the year it reduced positions in five listed issuers for sale proceeds of ¥238,784 million (US$1,458 million) and added to six for ¥93,737 million (US$572 million), the additions explained as judged to contribute to corporate value from a medium-to-long-term standpoint.
The named table opens with KDDI at ¥989,627 million (US$6,042 million) — 363,365,900 shares against 203,294,600 a year earlier, the change explained in the row as a stock split and a partial sale. NTT follows at ¥317,447 million (US$1,938 million), MS&AD Insurance Group Holdings at ¥283,739 million (US$1,732 million) on 70,371,899 shares (105,551,899 a year earlier), MUFG at ¥266,708 million (US$1,628 million), Suzuki at ¥180,048 million (US$1,099 million), Joby Aviation at ¥161,872 million (US$988 million) after Toyota took up a third-party allotment, and Renesas Electronics at ¥161,397 million (US$985 million). Panasonic Holdings, ¥14,576 million (US$89 million) a year earlier, is marked with a dash the table's note defines as not held. Bridgestone appears among the direct holdings at ¥26,062 million (US$159 million), the row's reason being a return from the retirement benefit trust, and is marked with the same dash in the deemed-holdings table.
The last column of Toyota's table reads 有 — the issuer holds Toyota shares — against KDDI, NTT and MUFG, three of its four largest rows, and the other side of each line is printed in the other company's report. KDDI's table lists Toyota at ¥126,393 million (US$772 million), NTT's at ¥470,046 million (US$2,870 million), and MUFG Bank's at ¥495,896 million (US$3,027 million) on 156,830,000 shares, the largest row in the bank's table; each of those rows prints 有 in its own last column. Sumitomo Mitsui Banking Corporation lists Toyota at ¥461,664 million (US$2,818 million) on 146,004,000 shares and prints 無.
Mitsubishi Corporation lists 30 listed issuers at ¥518,736 million (US$3,167 million), against 35 at ¥447,997 million (US$2,735 million) a year earlier, and 131 unlisted issuers against 142. Its own sentence on the year: it sold ¥12.2 billion (122億円; US$74.5 million) and reduced the balance by about 2% of the prior year-end level; the reduction table prints ten listed issuers sold down for ¥12,192 million (US$74 million) and eleven unlisted for ¥2,297 million (US$14 million). The board's verification passage says that, having examined every listed policy holding on both economic rationality and qualitative significance, it confirmed many issuers whose original purpose had faded and whose reduction it would consider.
Isuzu Motors heads the table at ¥141,328 million (US$863 million) on 63,633,040 shares, described as the core partner for commercial and light commercial vehicles in the company's mobility growth strategy. Ryohin Keikaku follows at ¥71,901 million (US$439 million), its share count doubled from 10,783,000 to 21,566,000 by the issuer's stock split; then Nissin Foods Holdings at ¥49,654 million (US$303 million), Ayala at ¥38,863 million (US$237 million), Mitsubishi Heavy Industries at ¥37,479 million (US$229 million), Yamazaki Baking at ¥34,926 million (US$213 million) and Mitsubishi Estate at ¥33,992 million (US$208 million). A separate table of deemed holdings, for which the report says it retains the authority to exercise voting rights, lists a further 26,615,000 Mitsubishi Heavy shares at ¥112,395 million (US$686 million), Tokio Marine Holdings at ¥98,950 million (US$604 million) and Mitsubishi Electric at ¥49,880 million (US$305 million).
Mitsubishi UFJ Financial Group states that the holding company itself holds no investment shares of either kind, so the section reports MUFG Bank as the group company with the largest carrying amount. The bank lists 773 listed issuers at ¥3,771,758 million (US$23,027 million) — 899 at ¥3,459,446 million (US$21,120 million) a year earlier — and 967 unlisted at ¥339,546 million (US$2,073 million), and during the year sold down 282 listed issuers for ¥531,605 million (US$3,245 million). The policy passage puts fiscal 2025 sales at about ¥166 billion (約1,660億円; US$1,010 million) at acquisition cost on a simple sum of the group banks, says the market value of policy holdings came to 18.0% of consolidated net assets, below the 20% line, and restates the three-year plan for fiscal 2024 to 2026: ¥700 billion (7,000億円; US$4,270 million) of sales and the ratio kept under 20%.
Toyota is the largest row at ¥495,896 million (US$3,027 million), followed by U.S. Bancorp at ¥368,987 million (US$2,253 million) on 44,374,155 shares, described as the holding company of U.S. Bank and held for a business alliance; then Toyota Tsusho at ¥144,560 million (US$883 million), Suzuki at ¥120,038 million (US$733 million), Grab Holdings at ¥83,627 million (US$511 million), Daikin at ¥71,212 million (US$435 million) and Mitsubishi HC Capital at ¥70,538 million (US$431 million). Shin-Etsu Chemical, ¥40,448 million (US$247 million) on 9,548,745 shares a year earlier, is marked with a dash. The deemed table, its rows annotated 退職給付信託として保有 — held as a retirement benefit trust — lists Nintendo at ¥184,753 million (US$1,128 million) on 21,054,500 shares, half the 42,109,000 of a year earlier, Central Japan Railway at ¥145,492 million (US$888 million), and Mitsubishi Heavy Industries at ¥68,898 million (US$421 million) on 16,315,000 shares against 38,311,600.
Sumitomo Mitsui Financial Group prints the same two layers: the holding company's own table runs to one listed issuer, SBI Holdings at ¥153,846 million (US$939 million), and Sumitomo Mitsui Banking Corporation's to 663 issuers at ¥3,457,578 million (US$21,109 million), with 267 listed issuers sold down for ¥566,777 million (US$3,460 million) in the year. Its passage records a plan, announced in November 2024, to cut ¥600 billion (6,000億円; US$3,660 million) of book value over the five years from March 2024, of which about ¥185 billion (約1,850億円; US$1,130 million) was cut in fiscal 2024 and about ¥124 billion (約1,240億円; US$757 million) in fiscal 2025. Mizuho Bank lists 614 issuers at ¥2,794,834 million (US$17,062 million); the group says its three core companies cut ¥114.6 billion (1,146億円; US$699.6 million) at cost in fiscal 2025, taking a book value that stood at ¥1,962.9 billion (1兆9,629億円; US$11,984 million) at the start of fiscal 2015 to ¥698.4 billion (6,984億円; US$4,264 million), that about three-tenths (約3割) of the domestic listed portfolio at March 2025 — ¥817.4 billion (8,174億円; US$4,990 million) at cost — was judged 合理性なし — without rationality for holding, and that it aims to cut at least ¥350 billion (3,500億円; US$2,140 million) over fiscal 2025 to 2027.
Kyocera's table is the shortest of the five and the most concentrated: seven listed issuers at ¥1,581,411 million (US$9,655 million), of which KDDI is ¥1,530,971 million (US$9,347 million). The share count rose from 335,096,000 to 562,133,600 through KDDI's stock split while the amount fell from ¥1,581,318 million (US$9,654 million), because Kyocera sold 108,058 thousand shares for ¥249,291 million (US$1,522 million) into KDDI's tender offer for its own shares during the year; the row adds that it plans to sell about ¥250,000 million (US$1,526 million) more in the year to March 2027, and that on May 12, 2026 it announced it would tender into a further KDDI buyback. The passage's targets: a cut of at least 5% of book value by March 2026, against which it reports about 18% cut, and a new target of policy holdings under 20% of net assets by around March 2031. Rohm, ¥1,486 million (US$9 million) a year earlier, was sold during the year, and the KDDI row prints 無 in the last column.
Nippon Steel is one of the four whose list grew: 68 listed issuers at ¥289,464 million (US$1,767 million), from 67 at ¥212,844 million (US$1,299 million), and 182 unlisted from 169. The increase table explains the additions — seven listed issuers for ¥3,629 million (US$22 million) — as shares taken over from merged subsidiaries and shares reclassified from affiliates after partial sales, while eleven listed issuers were sold down for ¥16,853 million (US$103 million). The largest rows are Nittetsu Mining at ¥20,177 million (US$123 million), MUFG at ¥19,796 million (US$121 million), Daido Steel at ¥19,687 million (US$120 million), Sankyu at ¥17,980 million (US$110 million), Mitsui & Co. at ¥17,272 million (US$105 million) and Sumitomo Corporation at ¥16,246 million (US$99 million), each described in terms of limestone supply, funding, joint ventures, in-plant logistics or steel sales.
One row carries a story. Tokyo Rope Manufacturing, ¥4,646 million (US$28 million) on 2,473,935 shares against 3,236,535 a year earlier, is described as a major customer in bar and wire rod; the report says Nippon Steel added to the position through a tender offer in fiscal 2020 to strengthen its commitment to the company's recovery, that the Japan Fair Trade Commission then pointed out that a combination relationship had arisen between the two companies, and that after consultation with the commission it is selling part of the stake. Nippon Steel also tables deemed holdings — MUFG at ¥46,190 million (US$282 million), Central Japan Railway at ¥24,310 million (US$148 million), SMFG at ¥18,434 million (US$113 million) — on top of the direct rows.
Read together, the named tables map the ties among the thirty-five themselves. As this desk matched issuer names across the direct-holding tables — the three financial groups counted through their banks' tables — they show 84 positions in which one of the thirty-five groups holds another (one of them, SMBC's FUJIFILM Holdings row, with its numbers replaced by an asterisk) and 30 pairs in which each holds the other; in 23 of the 30 pairs the last column reads 有 on both sides, and in the other seven one side prints 無, most of them with a note. The Toyota–KDDI and Toyota–NTT lines run both ways between the named companies; the Toyota–MUFG line runs through two group entities, Toyota holding Mitsubishi UFJ Financial Group and MUFG Bank holding Toyota. Nippon Steel holds MUFG, Mitsui & Co., SMFG and Mizuho Financial Group, and is held by MUFG Bank at ¥23,258 million (US$142 million), Mitsui at ¥7,083 million (US$43 million), SMBC at ¥29,523 million (US$180 million) and Mizuho Bank at ¥31,808 million (US$194 million). East Japan Railway and Central Japan Railway hold each other at ¥10,593 million (US$65 million) and ¥11,412 million (US$70 million), both hold Oriental Land, and Oriental Land holds both.
The last column is worth reading with its heading and its notes. SMBC's table, in SMFG's report, prints 無 against ITOCHU with a note that the issuer does not hold SMFG shares but a subsidiary of the issuer does. Keyence's row for MUFG prints 無 — its column asks whether the issuer, the holding company, holds Keyence shares — while MUFG Bank's table lists Keyence at ¥55,045 million (US$336 million) and prints 有 in a column headed ＭＵＦＧの株式の保有の有無, whether Keyence holds MUFG shares; Keyence's own table confirms that it does, at ¥2,006 million (US$12 million). The two columns ask different questions of different companies, and a group can sit on both sides of them.
Elsewhere the lists shortened sharply. Honda lists 21 listed issuers against 33; FUJIFILM Holdings 22 against 34; Panasonic Holdings 11 against 22; DENSO 8 against 12, carried at ¥83,994 million (US$513 million) against ¥371,525 million (US$2,268 million) after sales of six listed issuers for ¥450,945 million (US$2,753 million); Mitsui & Co. 64 against 72; Daikin 62 against 68; Recruit Holdings 4 against 7; Sony Group 5 against 7.
Two cautions on reading the amounts. The carrying amount of a listed share is a fair value at the balance-sheet date, so a year-on-year change in the amount mixes sales and purchases with share-price moves, and the count of issuers is the cleaner measure of who still holds whom. The count, too, moves for reasons other than sales — mergers, delistings, returns from trusts and reclassifications between affiliates and investment shares — which the tables note when they apply, as Toyota's Bridgestone row and Nippon Steel's increase table do.
Every named row ends with the question the form asks of the issuer: does it hold our shares. In June 2026, for the Toyota–KDDI and Toyota–NTT lines, for the Toyota–MUFG line that runs through MUFG Bank, and for 23 of the 30 matched pairs among the thirty-five, the answer printed on both sides is 有.
What would change our mind
The counts are this desk's reading of tables cut from 70 PDFs, not the documents themselves: 32 of the 35 count tables were read by column heading, Sony Group's and Recruit Holdings' are transposed and were typed in from the page text, and SoftBank Group's section states it holds none; the financial groups' figures are their banks', not the holding companies'; the matching of issuer names across tables dropped notes and corporate suffixes and can miss a spelling or match a wrong one, so 84 positions, 30 pairs and 23 both-有 pairs are the desk's tally, not a count the reports print, and the three financial groups are counted through their banks' tables; the deemed-holdings tables were separated from the direct tables by the nearest heading above each, and Shin-Etsu Chemical's last page was left out of the matching because the two headings could not be told apart there. A fall in an issuer count is not the same as a sale — mergers, delistings and trust transfers move it — and a rise in a carrying amount is not the same as a purchase. The named tables select the largest positions — the sixty largest, in SMBC's terms — and SMBC replaces the numbers of some smaller rows with an asterisk, so a bank can hold a company without a row, or without a number, saying so.
Sources
- トヨタ自動車株式会社 (TOYOTA MOTOR CORPORATION, 7203), 有価証券報告書 filed 2026-06-10 — 株式の保有状況, pp. 118–123: policy (148 → 114 issuers), count table (34 listed / ¥3,237,498 million; 80 unlisted), reduction and increase tables, 特定投資株式 (KDDI, NTT, MS&AD, MUFG, Suzuki, Joby, Renesas, Bridgestone, Panasonic HD), みなし保有株式, notes — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y8NYFinancial Services Agency (EDINET)
- トヨタ自動車株式会社, 有価証券報告書 filed 2025-06-18 — 株式の保有状況, p. 119: 34 listed issuers / ¥2,951,382 million; 81 unlisted — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VWVYFinancial Services Agency (EDINET)
- 三菱商事株式会社 (Mitsubishi Corporation, 8058), 有価証券報告書 filed 2026-06-12 — 株式の保有状況, pp. 108–112: 122億円 sold, 約2% reduction; 30 listed / ¥518,736 million; 131 unlisted; reduction table; 特定投資株式 (Isuzu, Ryohin Keikaku, Nissin Foods, Ayala, MHI, Yamazaki, Mitsubishi Estate); みなし保有株式 (MHI, Tokio Marine, Mitsubishi Electric) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YB25Financial Services Agency (EDINET)
- 三菱商事株式会社, 有価証券報告書 filed 2025-06-18 — 株式の保有状況, p. 108: 35 listed issuers / ¥447,997 million; 142 unlisted — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYM1Financial Services Agency (EDINET)
- 株式会社三菱ＵＦＪフィナンシャル・グループ (Mitsubishi UFJ Financial Group, Inc., 8306), 有価証券報告書 filed 2026-06-24 — 株式の保有状況, pp. 188–195: 約1,660億円 sold in FY2025, 18.0% ratio, 7,000億円 three-year plan; MUFG Bank count table (773 listed / ¥3,771,758 million; 967 unlisted / ¥339,546 million); reduction table (282 / ¥531,605 million); 特定投資株式 (Toyota, U.S. Bancorp, Toyota Tsusho, Suzuki, Grab, Daikin, Mitsubishi HC Capital, Keyence, Nippon Steel, Shin-Etsu); みなし保有株式 (Nintendo, JR Central, MHI); holding company holds none — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJQOFinancial Services Agency (EDINET)
- 株式会社三菱ＵＦＪフィナンシャル・グループ, 有価証券報告書 filed 2025-06-25 — 株式の保有状況, p. 139: MUFG Bank 899 listed issuers / ¥3,459,446 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4FBFinancial Services Agency (EDINET)
- 京セラ株式会社 (KYOCERA CORPORATION, 6971), 有価証券報告書 filed 2026-06-19 — 株式の保有状況, pp. 74–76: targets (5% of book value by FY3/2026, 約18% cut; under 20% of net assets by FY3/2031); count table (7 listed / ¥1,581,411 million); reduction table (3 / ¥251,667 million); KDDI row (562,133,600 shares, ¥1,530,971 million; 108,058 千株 sold for ¥249,291 million; 約250,000百万円 planned for FY3/2027; 2026-05-12 announcement); Rohm row — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF47Financial Services Agency (EDINET)
- 京セラ株式会社, 有価証券報告書 filed 2025-06-20 — 株式の保有状況, p. 81: 8 listed issuers / ¥1,621,416 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0VPFinancial Services Agency (EDINET)
- 日本製鉄株式会社 (NIPPON STEEL CORPORATION, 5401), 有価証券報告書 filed 2026-06-23 — 株式の保有状況, pp. 90–100: count table (68 listed / ¥289,464 million; 182 unlisted); increase table (7 / ¥3,629 million, reasons) and reduction table (11 / ¥16,853 million); 特定投資株式 (Nittetsu Mining, MUFG, Daido Steel, Sankyu, Mitsui, Sumitomo Corp, Tokyo Rope with the JFTC passage); みなし保有株式 (MUFG, JR Central, SMFG) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF8EFinancial Services Agency (EDINET)
- 日本製鉄株式会社, 有価証券報告書 filed 2025-06-24 — 株式の保有状況, p. 90: 67 listed issuers / ¥212,844 million; 169 unlisted — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3ATFinancial Services Agency (EDINET)
- 株式会社三井住友フィナンシャルグループ (Sumitomo Mitsui Financial Group, Inc., 8316), 有価証券報告書 filed 2026-06-19 — 株式の保有状況, pp. 161–167: reduction plan (6,000億円 over five years from March 2024; 約1,850億円 FY2024, 約1,240億円 FY2025); holding company table (SBI Holdings ¥153,846 million); SMBC count table (663 listed / ¥3,457,578 million) and reduction table (267 / ¥566,777 million); SMBC 特定投資株式 (Toyota ¥461,664 million, 無; Daikin; Mitsui; Nippon Steel ¥29,523 million, p. 164; FUJIFILM Holdings with an asterisk, p. 166); みなし保有株式 p. 167 (Nippon Steel ¥19,114 million); note ※2 on ITOCHU — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YERKFinancial Services Agency (EDINET)
- 株式会社三井住友フィナンシャルグループ, 有価証券報告書 filed 2025-06-20 — 株式の保有状況, p. 139: SMBC 785 listed issuers / ¥3,172,877 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0S7Financial Services Agency (EDINET)
- 株式会社みずほフィナンシャルグループ (Mizuho Financial Group, Inc., 8411), 有価証券報告書 filed 2026-06-19 — 株式の保有状況, pp. 187–192: Mizuho Bank as largest holder; 1,146億円 cut in FY2025, 1兆9,629億円 → 6,984億円 book value, 約3割 of 8,174億円 judged without rationality, 3,500億円 plan for FY2025–27; count table (614 listed / ¥2,794,834 million); reduction table (190 / ¥377,576 million); 特定投資株式 (Nippon Steel ¥31,808 million) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF8YFinancial Services Agency (EDINET)
- 株式会社みずほフィナンシャルグループ, 有価証券報告書 filed 2025-06-17 — 株式の保有状況, p. 151: Mizuho Bank 693 listed issuers / ¥2,385,471 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYQXFinancial Services Agency (EDINET)
- ＫＤＤＩ株式会社 (KDDI CORPORATION, 9433), 有価証券報告書 filed 2026-06-25 — 株式の保有状況, pp. 93–94: 11 listed issuers (14 a year earlier); Toyota row ¥126,393 million, 有 — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKG2Financial Services Agency (EDINET)
- ＮＴＴ株式会社 (NTT, Inc., 9432), 有価証券報告書 filed 2026-06-16 — 株式の保有状況, pp. 97–98: 8 listed issuers; Toyota row ¥470,046 million, 有 — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCP3Financial Services Agency (EDINET)
- 株式会社キーエンス (KEYENCE CORPORATION, 6861), 有価証券報告書 filed 2026-06-15 — 株式の保有状況, pp. 30–31: 6 listed issuers; MUFG row ¥2,006 million, 無 — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YAHEFinancial Services Agency (EDINET)
- 東日本旅客鉄道株式会社 (East Japan Railway Company, 9020), 有価証券報告書 filed 2026-06-17 — 株式の保有状況, pp. 79–81: 41 listed issuers (46); JR Central ¥10,593 million, Oriental Land ¥19,084 million, Nippon Steel ¥2,709 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YC7NFinancial Services Agency (EDINET)
- 東海旅客鉄道株式会社 (Central Japan Railway Company, 9022), 有価証券報告書 filed 2026-06-22 — 株式の保有状況, pp. 71–73: 47 listed issuers (46); JR East ¥11,412 million, Oriental Land ¥16,100 million, Nippon Steel ¥6,490 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YD7HFinancial Services Agency (EDINET)
- 株式会社オリエンタルランド (ORIENTAL LAND CO.,LTD., 4661), 有価証券報告書 filed 2026-06-25 — 株式の保有状況, pp. 76–77: 14 listed issuers; JR Central ¥8,249 million, JR East ¥7,697 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCJXFinancial Services Agency (EDINET)
- 三井物産株式会社 (MITSUI & CO., LTD., 8031), 有価証券報告書 filed 2026-06-12 — 株式の保有状況, pp. 148–153: 64 listed issuers (72); Nippon Steel ¥7,083 million, 有 — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YAVTFinancial Services Agency (EDINET)
- 本田技研工業株式会社 (HONDA MOTOR CO., LTD., 7267), 有価証券報告書 filed 2026-06-18 — 株式の保有状況, p. 114: 21 listed issuers (33 a year earlier, filed 2025-06-18, p. 109) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDD9Financial Services Agency (EDINET)
- 富士フイルムホールディングス株式会社 (FUJIFILM Holdings Corporation, 4901), 有価証券報告書 filed 2026-06-24 — 株式の保有状況, p. 125: 22 listed issuers (34 a year earlier, filed 2025-06-25, p. 124) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YIBHFinancial Services Agency (EDINET)
- パナソニックホールディングス株式会社 (Panasonic Holdings Corporation, 6752), 有価証券報告書 filed 2026-06-19 — 株式の保有状況, p. 100: 11 listed issuers (22 a year earlier, filed 2025-06-20, p. 102) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YETAFinancial Services Agency (EDINET)
- 株式会社デンソー (DENSO CORPORATION, 6902), 有価証券報告書 filed 2026-06-11 — 株式の保有状況, pp. 74–75: 8 listed issuers / ¥83,994 million (12 / ¥371,525 million a year earlier, filed 2025-06-11, p. 74); reduction table 6 / ¥450,945 million — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y9T1Financial Services Agency (EDINET)
- ソフトバンクグループ株式会社 (SoftBank Group Corp., 9984), 有価証券報告書 filed 2026-06-22 — 株式の保有状況, p. 107: 保有目的が純投資目的以外の目的である投資株式はありません (the same sentence in the report filed 2025-06-26, p. 115); the tables printed are of pure-investment shares — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGH5Financial Services Agency (EDINET)
- ソニーグループ株式会社 (SONY GROUP CORPORATION, 6758), 有価証券報告書 filed 2026-06-18 — 株式の保有状況, p. 112: 5 listed issuers / ¥129,020 million (7 / ¥58,772 million a year earlier, filed 2025-06-20, p. 116) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YE2CFinancial Services Agency (EDINET)
- 株式会社リクルートホールディングス (Recruit Holdings Co., Ltd., 6098), 有価証券報告書 filed 2026-06-19 — 株式の保有状況, p. 142: 4 listed issuers / ¥133,204 million (7 / ¥348,661 million a year earlier, filed 2025-06-23, p. 152) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDHLFinancial Services Agency (EDINET)
- ダイキン工業株式会社 (DAIKIN INDUSTRIES, LTD., 6367), 有価証券報告書 filed 2026-06-24 — 株式の保有状況, p. 94: 62 listed issuers (68 a year earlier, filed 2025-06-25, p. 74) — https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFQLFinancial Services Agency (EDINET)
- Method — extract_holdings.py and extract_specific.py over the 70 EDINET PDFs listed in data/yuho_targets_2025.json (35 June 2026 reports and the same filers' June 2025 reports): the count table is read as a table (pdfplumber) by its column headings 銘柄数 and 貸借対照表計上額 and its row labels 非上場株式 / 非上場株式以外の株式 (上場株式 in the banks' tables); 32 of 35 read by heading, Sony Group's and Recruit Holdings' transposed tables typed in from the page text, SoftBank Group's section states it holds none; for the three financial groups the bank's table is taken, not the holding company's; the named tables are read by the headings 当事業年度 / 前事業年度 and split from みなし保有株式 by the nearest heading above each table; issuer names are matched across tables after removing notes and corporate suffixes (84 one-way positions, 30 mutual pairs, 23 with 有 on both sides, as extracted, counting a row whose amount is replaced by an asterisk as a position; SoftBank Group's tables are pure-investment tables and are excluded). Dataset: data/yuho_holdings_final.json, data/yuho_specific.json — https://japanstockfiles.com/methodologyJapan Stock Files
This is general information about public disclosure, published freely to an unspecified readership. It is not investment advice, and contains no rating, target price, or recommendation.