---
endpoint: analytics
pattern: Technology
status: done
latency_ms: 120278
conversation_id: 04d32d2e-24b1-4479-b6bd-9d30ff09533c
citations: 0
created: 2026-05-31 18:24:18Z
---

# Who are the key shareholders of Hitachi?

# Hitachi Ltd. (TSE: 6501) — Key Shareholders

**Important caveat**: After searching both the organization's CLSA internal research archive and the indexed public-filings corpus (annual reports, earnings calls, slides, press releases), **I was unable to retrieve a verifiable, current top-shareholders list with specific ownership percentages from the data sources available in this session**. The institutional ownership database that would normally provide this (FactSet OWN_V5 — `OWN_INST_STAKES_DETAIL` etc.) is not accessible through the tools I have here, and the principal-shareholders section of Hitachi's most recent 有価証券報告書 (annual securities report) does not appear to be retrievable via keyword search in the indexed chunks.

## What the searches surfaced

**CLSA's most recent Hitachi note** — "Hitachi - O-PF (Digitalising assets)", published 11 June 2025 (607961791LinqAlpha.PDF) — does **not** contain a top-shareholders table. It focuses on the One Hitachi strategy, Lumada, capital allocation and forecasts. The closest reference is to capital-return policy: the company "targets more than 50% of core FCF or net income for shareholder returns" with M&A/buyback prioritisation when non-core assets are sold.

**Public filings indexed** for ticker 6501 (earnings calls, slides, annual reports) likewise surfaced commentary on shareholder *returns* (dividends, buybacks, Hitachi-shareholders' equity in the consolidated balance sheet — JPY 5,847bn at end-March 2025, rising to JPY 6,568bn at end-March 2026) but not the principal-shareholders register itself.

## What is publicly known about Hitachi's shareholder structure (general reference, not from this session's retrievals)

Based on Hitachi's own published disclosures in past annual securities reports, the typical pattern for 6501 has been:

| Tier | Typical holders (based on prior public disclosures) |
|---|---|
| Trust banks (nominee accounts holding for various beneficial owners) | The Master Trust Bank of Japan, Custody Bank of Japan |
| Global passive managers (via trust-bank nominee or direct) | BlackRock, Vanguard, State Street |
| Japanese life insurers (cross-holdings being reduced) | Nippon Life, Dai-ichi Life |
| Hitachi employee shareholding association | Hitachi Group Employees' Shareholding Association |
| Retail/individual | A material long-tail given Hitachi's history as a Japanese household-name conglomerate |

The CLSA report does flag that Hitachi has been **unwinding strategic cross-shareholdings** (mentioned in slides as "tax increase related to selling of cross/strategic shareholding"), which is consistent with the broader Japan-wide governance trend reducing reciprocal corporate holdings.

## Recommendation

For a definitive, current top-shareholders list with exact stake percentages, the authoritative sources are:
- **Hitachi's latest 有価証券報告書 (Annual Securities Report)** filed with the JPX/EDINET — contains the "Major Shareholders" (大株主の状況) section listing top 10 holders with shares and %.
- **Hitachi's Integrated Report / IR website** — annual ownership-composition pie chart (foreign vs. domestic, financial institutions, individuals).
- **FactSet OWN_V5 / Bloomberg HDS** — for institutional holdings detail.

If you would like me to pull this from a specific source you can point me to (e.g., a specific Hitachi annual report uploaded to the vault, or a different search angle within the indexed filings), I can rerun the search.

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**Sources**
[Note: No specific shareholder-list citation was retrievable from this session's data sources. The CLSA report (607961791) and Hitachi's earnings slides discuss capital allocation and shareholder *returns* but not the principal-shareholders register.]

