4634
artience Co., Ltd.
artience株式会社
Chemicals
artience Co., Ltd. engages in the colorants and functional materials, polymers and coatings, printing and information, and packaging materials businesses in Japan, Europe, Asia, the Americas, and internationally. The company operates through Coloring materials and functional materials related; Polymer/coating related; Package related; and Printing and information related business segments.It offers pigments, pigment dispersions, pastes for color filter, color resists, OCF resists, color/functional masterbatches, functional compounds, paints for data recording materials, CCUS materials, CNT dispersions, inkjet inks, colorants, and plastic colorants. The company also provides pressure sensitive adhesives, laminating adhesives, hot-melt adhesives, adhesive tapes, functional film for electronics, marking films, can coatings, resins, hard coating materials, medical products, natural extracts, and coating agents. In addition, it offers gravure and flexographic inks, gravure printing systems, gravure, and flexographic plate making solutions. Further, the company provides offset inks, newspaper inks, metal decorative inks, UV curing inks, offset printing materials, printing equipment, screen inks, printing inks, and others. It serves electronics, package, optoelectronics, medical/healthcare, mobility, building materials/living space, energy, and printing markets. The company was formerly known as Toyo Ink SC Holdings Co., Ltd. and changed its name to artience Co., Ltd. in January 2024. artience Co., Ltd. was founded in 1896 and is headquartered in Tokyo, Japan.
Price
¥4,190
Market Cap
¥198.7B
Ent. Value
¥214.5B
Net Debt
−¥15.8B
Shares Out.
47.4M
P / E
19.9×
EV / EBIT
10.3×
P / Book
0.75×
P / NCAV
4.70×
Div. Yield
2.39%
Financials
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥350.0B | ¥351.1B | ¥322.1B | ¥315.9B | ¥288.0B |
| Cost of Sales | ¥274.0B | ¥276.4B | ¥258.3B | ¥261.7B | ¥229.3B |
| Gross Profit | ¥76.0B | ¥74.6B | ¥63.8B | ¥54.2B | ¥58.7B |
| SG&A | ¥55.2B | ¥54.2B | ¥50.5B | ¥47.3B | ¥45.7B |
| Operating Income | ¥20.8B | ¥20.4B | ¥13.4B | ¥6.9B | ¥13.0B |
| Non-Operating Income | ¥4.9B | ¥4.5B | ¥2.6B | ¥4.3B | ¥3.8B |
| Dividend Income | ¥1.4B | ¥1.3B | ¥1.3B | ¥1.6B | ¥1.3B |
| Interest Income | ¥473M | ¥594M | ¥411M | ¥226M | ¥189M |
| Non-Operating Expenses | ¥4.8B | ¥3.9B | ¥3.1B | ¥3.3B | ¥1.3B |
| Interest Expense | ¥1.2B | ¥2.8B | ¥1.9B | ¥1.4B | ¥544M |
| Ordinary Income | ¥20.9B | ¥21.0B | ¥12.9B | ¥7.9B | ¥15.4B |
| Pre-tax Income | ¥16.0B | ¥22.9B | ¥12.8B | ¥12.4B | ¥13.1B |
| Income Taxes | ¥6.2B | ¥4.2B | ¥3.0B | ¥3.0B | ¥3.5B |
| Current Tax | ¥6.2B | ¥5.4B | ¥3.1B | ¥2.8B | ¥3.5B |
| Deferred Tax | ¥33M | ¥-1.2B | ¥-91M | ¥129M | ¥-32M |
| Net Income (owners) | ¥10.3B | ¥18.5B | ¥9.7B | ¥9.3B | ¥9.5B |
| Minority Interest | ¥-564M | ¥207M | ¥34M | ¥83M | ¥187M |
| Comprehensive Income | ¥19.0B | ¥30.0B | ¥31.9B | ¥11.7B | ¥19.9B |
| EBITDA | ¥34.4B | ¥32.8B | ¥24.9B | ¥17.6B | ¥22.7B |
| Goodwill Amort. (J-GAAP) | ¥309M | ¥291M | ¥226M | — | — |
| EPS | ¥210.50 | ¥352.53 | ¥183.69 | ¥171.49 | ¥169.36 |
| Shares Outstanding | 47.4M | 50.7M | 53.0M | 53.0M | 55.8M |
| Shares Issued (total) | 50.3M | 53.3M | 58.3M | 58.3M | 60.6M |
| Treasury Shares | 2.9M | 2.5M | 5.3M | 5.3M | 4.8M |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥462.6B | ¥472.8B | ¥447.8B | ¥411.2B | ¥406.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥227.7B | ¥245.3B | ¥230.9B | ¥229.2B | ¥223.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥47.6B | ¥62.9B | ¥57.9B | ¥55.1B | ¥64.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥234.9B | ¥227.5B | ¥216.9B | ¥181.9B | ¥183.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥147.9B | ¥148.3B | ¥134.3B | ¥122.4B | ¥111.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥2.3B | ¥2.4B | ¥2.2B | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥6.0B | ¥6.0B | ¥5.3B | ¥2.6B | ¥2.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥62.0B | ¥57.6B | ¥63.9B | ¥42.8B | ¥54.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥5.0B | ¥4.8B | ¥3.3B | ¥2.8B | ¥2.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥185.4B | ¥199.0B | ¥192.1B | ¥183.3B | ¥179.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥106.1B | ¥139.5B | ¥124.0B | ¥113.5B | ¥112.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥67.9B | ¥70.7B | ¥67.1B | ¥70.7B | ¥68.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥14.3B | ¥45.8B | ¥36.5B | ¥24.0B | ¥24.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥3.0B | ¥3.0B | ¥1.6B | ¥726M | ¥1.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥79.3B | ¥59.6B | ¥68.2B | ¥69.8B | ¥67.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥49.1B | ¥34.9B | ¥50.2B | ¥59.9B | ¥55.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥3.7B | ¥3.3B | ¥1.9B | ¥1.7B | ¥2.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥17.1B | ¥14.0B | ¥13.6B | ¥6.3B | ¥8.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥277.2B | ¥273.8B | ¥255.7B | ¥227.9B | ¥226.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥31.7B | ¥31.7B | ¥31.7B | ¥31.7B | ¥31.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥32.5B | ¥32.5B | ¥32.5B | ¥32.5B | ¥32.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥155.8B | ¥159.8B | ¥156.4B | ¥151.4B | ¥151.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-9.0B | ¥-8.0B | ¥-10.6B | ¥-10.7B | ¥-9.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥55.0B | ¥46.1B | ¥35.8B | ¥14.1B | ¥12.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥211.0B | ¥216.0B | ¥210.0B | ¥205.0B | ¥206.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥11.2B | ¥11.6B | ¥9.8B | ¥8.7B | ¥8.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥63.4B | ¥80.7B | ¥86.7B | ¥83.9B | ¥79.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-15.8B | ¥-17.9B | ¥-28.8B | ¥-28.8B | ¥-14.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥42.3B | ¥46.2B | ¥38.8B | ¥45.9B | ¥43.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥892 | ¥911 | ¥731 | ¥867 | ¥781 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥4,449 | ¥4,256 | ¥3,960 | ¥3,869 | ¥3,693 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥27.6B | ¥27.0B | ¥23.5B | ¥4.3B | ¥15.8B |
| Interest Paid | ¥-1.3B | ¥-2.4B | ¥-1.8B | ¥-1.2B | ¥-532M |
| Interest Received | ¥1.9B | ¥2.2B | ¥1.7B | ¥1.9B | ¥1.5B |
| D&A | ¥13.3B | ¥12.1B | ¥11.3B | ¥10.7B | ¥9.7B |
| Goodwill Amort. | ¥309M | ¥291M | ¥226M | — | — |
| Investing CF | ¥-11.2B | ¥-10.2B | ¥-19.5B | ¥-5.6B | ¥-17.6B |
| CapEx | ¥14.7B | ¥18.0B | ¥19.0B | ¥17.7B | ¥18.1B |
| Financing CF | ¥-31.7B | ¥-15.0B | ¥-2.6B | ¥-8.1B | ¥-12.0B |
| Dividends Paid | ¥-5.0B | ¥-5.0B | ¥-4.8B | ¥-4.9B | ¥-5.1B |
| Share Buybacks | ¥-10.4B | ¥-7.5B | ¥-4M | ¥-5.7B | ¥-5.0B |
| LT Debt Repaid | ¥-28.7B | ¥-16.2B | ¥-785M | ¥-6.5B | ¥-511M |
| Free Cash Flow | ¥12.8B | ¥8.9B | ¥4.5B | ¥-13.4B | ¥-2.3B |
| Net Change in Cash | ¥-14.3B | ¥4.0B | ¥2.7B | ¥-7.6B | ¥-12.2B |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 3.9% | 7.3% | 4.2% | 4.3% | 4.4% |
| ROA | 2.2% | 4.0% | 2.3% | 2.3% | 2.3% |
| EPS | ¥210.50 | ¥352.53 | ¥183.69 | ¥171.49 | ¥169.36 |
| DPS | ¥100.00 | ¥100.00 | ¥90.00 | ¥90.00 | ¥90.00 |
| BPS | ¥5,609.42 | ¥5,164.85 | ¥4,634.95 | ¥4,133.90 | ¥3,911.64 |
| FCF/Share | ¥270 | ¥176 | ¥85 | ¥-253 | ¥-41 |
| NCAV/Share | ¥892 | ¥911 | ¥731 | ¥867 | ¥781 |
| Payout Ratio | 47.5% | 28.4% | 49.0% | 52.5% | 53.1% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 1
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 | TOPPANホールディングス㈱ | 10,446 | 22.03% |
| 2 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱(信託口)
|
5,966 | 12.58% |
| 3 |
Japan Custody Bank
㈱日本カストディ銀行(信託口)
|
3,008 | 6.34% |
| 4 |
NIPPON SHOKUBAI CO., LTD.
㈱日本触媒
|
1,661 | 3.50% |
| 5 |
Employee Stock Ownership Plan
artienceグループ社員持株会
|
1,333 | 2.81% |
| 6 |
Business Partner Stock Ownership Plan
artienceグループ取引先持株会
|
979 | 2.06% |
| 7 |
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 ㈱みずほ銀行決済営業部)
|
962 | 2.03% |
| 8 |
BNY Mellon (Nominee)
THE BANK OF NEW YORK, TREATY JASDEC ACCOUNT(常任代理人㈱三菱UFJ銀行)
|
815 | 1.72% |
| 9 |
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 ㈱みずほ銀行決済営業部)
|
727 | 1.53% |
| 10 |
BNYMSANV RE BNYMIL RE WS MORANT WRIGHT NIPPON YIELD FUND
BNYMSANV RE BNYMIL RE WS MORANT WRIGHT NIPPON YIELD FUND(常任代理人㈱三菱UFJ銀行)
|
530 | 1.12% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
18.9%
+2.1% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
5.3%
+0.4% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
31.5%
+2.0% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 55.7% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| TOPPANホールディングス | 19.70% | 20.59% | 22.03% +1.44% | |
| 日本マスタートラスト信託銀行 | 12.04% | 11.83% | 12.58% +0.75% | |
| Japan Custody Bank 日本カストディ銀行 | 6.57% | 4.96% | 6.34% +1.38% | |
| State Street | 2.75% | 3.49% | 3.56% +0.07% | |
| NIPPON SHOKUBAI CO., LTD. ㈱日本触媒 | 3.13% | 3.27% | 3.50% +0.23% | |
| Employee Stock Ownership Plan artienceグループ社員持株会 | — | 2.73% | 2.81% +0.08% | |
| Business Partner Stock Ownership Plan artienceグループ取引先持株会 | — | 1.85% | 2.06% +0.21% | |
| BNY Mellon | — | 1.40% | 1.72% +0.32% | |
| BNYMSANV RE BNYMIL RE WS MORANT WRIGHT NIPPON YIELD FUND | — | 1.04% | 1.12% +0.08% | |
| ㈱三菱UFJ銀行 last seen 2023 | Exited Top 10 | 1.14% | — | — |
| みずほ銀行 last seen 2023 | Exited Top 10 | 1.14% | — | — |
| 東洋インキ取引先持株会 last seen 2023 | Exited Top 10 | 1.73% | — | — |
| 東洋インキグループ社員持株会 last seen 2023 | Exited Top 10 | 3.00% | — | — |
| Concentration (HHI) ⓘ | 608 | 625 | 725 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥20,071M
+9% since 2023
Holdings
42
+5 new
8 exited
Trend
3 unwinding
vs 2023
| Held Company | FY2025 ¥20,071M total | FY2023 ¥18,365M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
NIPPON SHOKUBAI CO., LTD.
㈱日本触媒
|
7,256 |
+300.0%
↑
3,618,188
|
4,915 | 904,547 | M |
|
Toyo Seikan Group Holdings, Ltd.
東洋製罐グループホールディングス㈱
|
6,117 |
-57.9%
↓
1,598,969
|
8,688 | 3,798,969 | M |
|
Kyodo Printing Co., Ltd.
共同印刷㈱(注4)
|
1,371 |
NEW
New
867,680
|
— | ||
|
Marubeni Corporation
丸紅㈱
|
1,161 |
266,851
|
594 | 266,851 | |
|
OSAKA ORGANIC CHEMICAL INDUSTRY LTD.
大阪有機化学工業㈱
|
696 |
-0.6%
↓
174,000
|
474 | 175,000 | M |
|
Nissha Co., Ltd.
NISSHA㈱
|
543 |
-5.0%
↓
435,000
|
674 | 457,894 | M |
|
LINTEC Corporation
リンテック㈱
|
442 |
100,000
|
275 | 100,000 | |
|
TOMOKU CO.,LTD.
㈱トーモク
|
381 |
108,033
|
232 | 108,033 | M |
|
ARAKAWA CHEMICAL INDUSTRIES, LTD.
荒川化学工業㈱
|
358 |
293,760
|
297 | 293,760 | M |
|
TOIN CORPORATION
トーイン㈱
|
251 |
+1.9%
↑
212,551
|
110 | 208,651 | |
|
TOKYO PRINTING INK MFG. CO., LTD.
東京インキ㈱
|
248 |
34,650
|
98 | 34,650 | M |
|
KOMORI CORPORATION
㈱小森コーポレーション
|
220 |
139,000
|
158 | 139,000 | M |
|
Dynapac Co., Ltd.
ダイナパック㈱
|
164 |
+1.9%
↑
71,316
|
104 | 69,967 | |
|
THE PACK CORPORATION
ザ・パック㈱(注5)
|
138 |
NEW
New
107,293
|
— | ||
|
NAGASE & CO., LTD.
長瀬産業㈱
|
117 |
31,002
|
70 | 31,002 | M |
|
ASAHI PRINTING CO.,LTD.
朝日印刷㈱
|
96 |
+4.4%
↑
110,839
|
94 | 106,144 | |
|
HAGIHARA INDUSTRIES INC.
萩原工業㈱
|
67 |
40,000
|
57 | 40,000 | |
|
TAKEDA iP HOLDINGS CO., LTD.
竹田iPホールディングス㈱
|
60 |
55,000
|
41 | 55,000 | |
|
ZENRIN CO., LTD.
㈱ゼンリン
|
58 |
55,786
|
48 | 55,786 | |
|
Taisei Lamick Group Head Quarter & Innovation Co., Ltd.
大成ラミックグループ㈱
|
51 |
NEW
New
19,341
|
— | ||
|
MITSUMURA PRINTING CO.,LTD.
光村印刷㈱
|
49 |
25,240
|
34 | 25,240 | |
|
ZACROS Corporation
ZACROS㈱(注6)
|
39 |
NEW
New
34,474
|
— | ||
|
FURUBAYASHI SHIKO CO.,LTD.
古林紙工㈱
|
33 |
14,260
|
33 | 14,260 | |
|
Japan Chemical Industries Co., Ltd.
日本化学産業㈱
|
27 |
11,000
|
15 | 11,000 | M |
|
Sun A.Kaken Company,Limited
㈱サンエー化研
|
24 |
30,000
|
15 | 30,000 | |
|
Nozaki Printing Paper Co.
野崎印刷紙業㈱
|
21 |
103,167
|
15 | 103,167 | |
|
Maruto Sangyo Co., Ltd
丸東産業㈱
|
20 |
9,882
|
19 | 9,882 | |
|
Mitsubishi Chemical Gloup Corporation
三菱ケミカルグループ㈱
|
19 |
20,839
|
18 | 20,839 | |
|
Sun Messe Co.,Ltd.
サンメッセ㈱
|
16 |
44,000
|
16 | 44,000 | |
|
Tensho Electric Industries Co., Ltd.
天昇電気工業㈱
|
12 |
50,000
|
20 | 50,000 | |
|
FUSO DENTSU CO., LTD.
扶桑電通㈱(注7)
|
6 |
NEW
New
3,168
|
— | M | |
|
OHISHI SANGYO CO.,LTD.
大石産業㈱
|
5 |
+100.0%
↑
3,630
|
3 | 1,815 | |
|
Oji Holdings Corporation
王子ホールディングス㈱
|
4 |
5,776
|
3 | 5,776 | |
|
譌・譛ャ陬ス邏呎ェ蠑丈シ夂、セ
日本製紙㈱
|
1 |
1,700
|
2 | 1,700 | |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
— | — | |||
|
NIPPON PAINT HOLDINGS CO.,LTD.
日本ペイントホールディングス㈱
|
— | — | |||
| 三井住友トラスト・ホールディングス㈱ | — | — | |||
| MS ADインシュアランスグループホールディングス㈱ | — | — | |||
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
— | — | |||
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
— | — | |||
|
NAKAMOTO PACKS CO.,LTD.
中本パックス㈱
|
— | — | |||
|
Chuetsu Pulp & Paper Co., Ltd.
中越パルプ工業㈱
|
— | — | |||
|
HOKKAN HOLDINGS LIMITED
ホッカンホールディングス㈱
|
— |
−100%
Exit
—
|
338 | 208,317 | |
|
Kyodo Printing Co., Ltd.
共同印刷㈱
|
— |
−100%
Exit
—
|
700 | 216,920 | |
|
THE PACK CORPORATION
ザ・パック㈱
|
— |
−100%
Exit
—
|
112 | 33,323 | |
| 大成ラミック㈱ | — |
−100%
Exit
—
|
48 | 16,742 | |
| 藤森工業㈱ | — |
−100%
Exit
—
|
31 | 8,324 | |
|
Daishowa Paper Manufacturing Co., Ltd.
大王製紙㈱
|
— |
−100%
Exit
—
|
11 | 10,000 | |
|
FUSO DENTSU CO., LTD.
扶桑電通㈱
|
— |
−100%
Exit
—
|
2 | 1,584 | M |
|
Superbag Company,Limited
スーパーバッグ㈱
|
— |
−100%
Exit
—
|
1 | 738 | |
| Portfolio total | 20,071 | 18,365 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding