Principal Shareholders

as of March 31, 2025

Shareholders Number of shares
(thousands of share)		 Ratio of
shareholdings
Hanshin Electric Railway Co., Ltd. 14,749 12.07
The Master of Trust Bank of Japan, Ltd. (Trust account) 13,616 11.14
Hankyu Hanshin Holdings, Inc. 8,336 6.82
Custody Bank of Japan, Ltd. (Trust account) 6,041 4.94
Kansai Food Market Supplier Shareholding Association 5,347 4.37
BNYM AS AGT/CLTS 10PERCENT 2,445 2.00
GOVERNMENT OF NORWAY 1,975 1.62
H2O Retailing Group employees' Shareholding Association 1,908 1.56
STATE STREET BANK AND TRUST COMPANY 505223 1,807 1.48
STATE STREET BANK AND TRUST COMPANY 505001 1,441 1.18

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

Shares by type of shareholders

as of March 31, 2025

(％)
Government and local public entities Financial institutions Securities companies Other companies Foreign companies, etc Individuals & others Treasury stock
Shares by type of shareholders 0.0 18.4% 1.3% 30.9% 16.7% 30.3% 2.4%