FUJIFILM Holdings Corporation is the listed Japanese parent company behind the Fujifilm group. Its largest reported shareholder entry was The Master Trust Bank of Japan’s trust account, at 18.9% on March 31, 2025. That dated figure does not mean the bank controls Fujifilm: the company says it has no controlling shareholder other than a parent company, and trust-account labels do not identify the ultimate investors behind them.
Who owns Fujifilm?
“Fujifilm” can refer to the listed parent, FUJIFILM Holdings Corporation, or to the wider group of companies operating under it. In the ownership question, the relevant entity is the listed parent. Its shares are held by the shareholders disclosed in its shareholder information; its subsidiaries are companies it owns or controls, not shareholders of the parent.
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FUJIFILM Holdings reports that it has no controlling shareholder other than a parent company. The company’s published major-shareholder table lists sizeable positions, but no single named holder is shown as a majority owner. The table does not establish whether holders coordinate or who ultimately directs every vote.
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What do Fujifilm’s major-shareholder figures show?
The figures below are FUJIFILM Holdings’ reported snapshot as of March 31, 2025, not a real-time share register. The first three entries in its major-shareholders table were:
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| Reported shareholder entry | Reported holding | What the label tells you |
|---|---|---|
| The Master Trust Bank of Japan, Ltd. (Trust account) | 18.9% | Trust-account entry; the ultimate investors are not identified by this label. |
| Custody Bank of Japan, Ltd. (Trust account) | 6.7% | Trust-account entry; the ultimate investors are not identified by this label. |
| Nippon Life Insurance Company | 3.5% | Insurance company named in the table. |
The percentages are company-reported and rounded. FUJIFILM Holdings states that treasury shares are excluded from the major-shareholder table and that the percentage denominator subtracts treasury shares from issued shares. The 2025 overview reported 1,243,877,184 shares outstanding and 38,355,949 treasury shares as of March 31, 2025, so the reported ratios should not be recalculated against the unadjusted issued-share total.
Shareholder categories
The same March 31, 2025 overview broke the share distribution into these categories:
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| Category | Share distribution |
|---|---|
| Foreign corporations | 43.4% |
| Financial institutions | 35.3% |
| Individuals and others | 12.9% |
| Other corporations | 3.3% |
| Treasury stock | 3.1% |
| Securities companies | 2.0% |
FUJIFILM Holdings also reported 180,816 shareholders as of March 31, 2025. These categories describe the reported distribution, not the identities or voting arrangements of all underlying investors.
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Why trust and custodian entries do not reveal who ultimately owns the shares
A major-shareholder table names the holder recorded in the company’s disclosure. A trust-account or custodian entry is not, by itself, a list of the people or institutions whose assets are represented, nor does it show whose instructions determine voting. It is therefore accurate to say that The Master Trust Bank of Japan’s trust account was the largest listed entry in the March 31, 2025 table; it is not accurate to infer from that entry alone that the bank is Fujifilm’s controlling owner.
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The published figures support a dated account of reported holdings. They do not by themselves establish beneficial ownership, shareholder coordination, or the exercise of every vote.
How FUJIFILM Holdings fits into the Fujifilm group
The current holding-company structure dates to October 1, 2006. On that date, Fuji Photo Film Co., Ltd. became FUJIFILM Holdings Corporation, while the former Fuji Photo Film businesses were taken over by a newly established operating company, FUJIFILM Corporation.
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In the group organization overview dated September 30, 2025, FUJIFILM Holdings lists FUJIFILM Corporation, FUJIFILM Business Innovation Corp., FUJIFILM Business Expert Corporation, and FUJIFILM Intellectual Property Research Co., Ltd. as 100%-owned companies. The company profile describes 258 consolidated subsidiaries as of March 31, 2026. Those are group companies beneath the parent, not owners of shares in the listed parent merely by virtue of belonging to the group.
Ownership and governance are related, but different
Shareholder disclosures show who is reported as holding shares at a particular date. Governance materials explain how the company is supervised and managed. FUJIFILM Holdings’ governance page says its Corporate Governance Report was submitted to the Tokyo Stock Exchange on June 29, 2026. Its governance-structure page describes the arrangement as of June 26, 2026: the General Meeting of Shareholders sits above the Board of Directors and Audit & Supervisory Board, while executive management is responsible for business execution.
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That governance structure does not change what the shareholder table can establish. The holdings figures remain a dated snapshot, and the company’s statement that it has no controlling shareholder other than a parent company should not be expanded into claims about the beneficial owners behind trust accounts.
Where to check for newer ownership information
Shareholdings can change after a reported snapshot. For the figures in this article, the relevant shareholder date is March 31, 2025; consult FUJIFILM Holdings’ official shareholder and investor-relations materials for any newer table before treating those percentages as current.
Quick Recap
- FUJIFILM Holdings stock information for shareholder and stock details.
- FUJIFILM Holdings corporate governance for governance reports and related disclosures.
- FUJIFILM group overview for the company’s organization and profile information.
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