Principal Shareholders

as of March 31, 2022

Shareholders Number of shares
(thousands of share)		 Ratio of
shareholdings
Hanshin Electric Railway Co., Ltd 14,749 11.97
The Master of Trust Bank of Japan, Ltd. (Trust account) 13,185 10.70
Hankyu Hanshin Holdings, Inc. 10,336 8.39
Takashimaya Co., Ltd. 6,259 5.08
Custody Bank of Japan, Ltd. (Trust account) 5,188 4.21
Company's Kyowakai Assn. 3,033 2.46
H2O Retailing Group Employees' Shareholding Association 1,881 1.53
NORTHERN TRUST GLOBAL SERVICES SE,
LUXEMBOURG RE LUDU RE：UCITS CLIENTS 15.315 PCT
NON TREATY ACCOUNT		 1,819 1.48
DFA INTL SMALL CAP VALUE PORTFOLIO 1,711 1.39
BNYMSANV AS AGENT/CLIENTS LUX UCITS NON TREATY 1 1,385 1.12

*Shareholding ratio is calculated by deducting treasury shares from total shares issued.

Shares by type of shareholders

as of March 31, 2022

(％)
Government and local public entities Japanese financial institutions Japanese securities companies Other Japanese companies Foreign investors Japanese individuals and others Treasury shares
Shares by type of shareholders 0.0 18.8 1.3 32.9 14.4 31.0 1.6