Cosmo Energy Holdings Co., Ltd.

Shareholders of Cosmo Energy Holdings Co., Ltd.

The registry snapshot for Cosmo Energy Holdings Co., Ltd. (verified 2 August 2026) lists 13 shareholder records, all held by foreign passive institutional funds and ETFs, including Schwab Strategic Trust-branded and iShares MSCI EAFE Small Cap index funds and a Bernstein Fund small-cap portfolio, each holding roughly 1.6% to 3.6% of share capital. This is a partial, index-fund-weighted slice of the shareholder base and does not include the company’s actual largest disclosed shareholder. According to Iwatani Corporation’s own disclosures and Tokyo Stock Exchange substantial-shareholding filings, Iwatani Corporation, a Japanese industrial-gas group, holds the largest reported stake in Cosmo Energy Holdings Co., Ltd., approximately 19.9% following a December 2023 purchase, rising to roughly 21%-22% in subsequent 2025-2026 disclosures. As a TSE Prime Market-listed company, Cosmo Energy Holdings Co., Ltd. is required to publicly disclose only holders whose stakes cross the 5% substantial-shareholding threshold, so the disclosed names in any source represent major shareholders rather than a complete register.

Activist-investor stake and its resolution

Between 2021 and 2023, investment funds linked to activist investor Yoshiaki Murakami, including City Index Eleventh, jointly with family-linked holders, built a combined stake in Cosmo Energy Holdings Co., Ltd. reported at close to 25%, and City Index Eleventh submitted shareholder proposals to the company and was reported to be weighing a tender offer. In December 2023, Iwatani Corporation agreed to acquire approximately 19.9% of Cosmo Energy Holdings Co., Ltd. from the Murakami-linked funds for approximately JPY 105.3 billion; City Index Eleventh subsequently confirmed it had withdrawn its own acquisition plans. Iwatani Corporation has since been reported as the company’s largest single shareholder, and the two companies have expanded a hydrogen-related capital and business alliance. No source reviewed indicates that the Murakami-linked funds retain a substantial (5%+ reportable) stake in the company as of the most recent disclosures found.

Ultimate beneficial ownership

No individual ultimate beneficial owner can be reliably identified. Every shareholder named above, the on-file index funds, Iwatani Corporation and the former Murakami-linked funds, is itself a corporate entity (an asset manager, industrial company or investment fund) rather than a natural person, and Japanese TSE-listed company disclosure does not require a further look-through to natural-person UBOs of these institutional holders. UBO identification in the sense used for closely held private companies does not apply in the ordinary way to a widely held, exchange-listed group of this kind.

Data availability

Shareholder disclosure for this TSE Prime Market-listed company is major-shareholders-only: only stakes at or above the 5% substantial-shareholding threshold are required to be publicly reported, so no complete shareholder register is available, and a large share of Cosmo Energy Holdings Co., Ltd.’s outstanding shares are held by holders below that threshold or by street-name/nominee accounts typical of Japanese exchange-listed companies. The on-file registry list should be treated as a partial, non-representative sample rather than the company’s actual largest holders.

Sources

• Iwatani Corporation, press release/disclosure on the acquisition of Cosmo Energy Holdings Co., Ltd. shares, December 2023
• Nikkei Asia, “Murakami’s Cosmo Energy buy heralds sector consolidation”
• MarketScreener, “Japan’s Iwatani buys stake in Cosmo Energy from Murakami funds”, 1 December 2023
• MarketScreener, “City Index Eleventh Submits Shareholder Proposal to Cosmo Energy Holdings”
• MarketScreener, “Murakami-Linked City Index Eleventh: Have Withdrawn Takeover Offer”
• Public disclosures reporting Iwatani Corporation’s shareholding at approximately 21%-22%, 2025-2026

Directors and officers of Cosmo Energy Holdings Co., Ltd.

The on-file registry lists 9 officer records for Cosmo Energy Holdings Co., Ltd., all flagged active, of which a sample of five (Tomoki Iwai, Eriko Date, Yoshihiko Sato, Noriko Rzonca and Junko Takeda) was reviewed for this profile. Cross-checked against the company’s own investor-relations organisation page, Cosmo Energy Holdings Co., Ltd.’s current Board of Directors comprises five executive directors, Hiroshi Kiriyama (Director, Group Chairperson, since June 2025), Shigeru Yamada (Representative Director, Group CEO, since April 2023), Taisuke Matsuoka (Representative Director, Senior Executive Officer, since June 2025), Tadashi Okada (Director, Senior Executive Officer, since June 2026) and Shigeki Iwane (Director, since June 2024), alongside three independent outside directors (Ryuko Inoue, Takuya Kurita and Takako Suzuki). A separate Audit and Supervisory Committee comprises Junko Takeda (internal) and three independent outside members (Yasuko Takayama, Keiichi Asai and Toshihiro Kuriyama). Senior Executive Officers include Noriko Rzonca (Chief Digital Officer), Hiroaki Ohtsuka and Tomoki Iwai. The on-file record’s job title for Junko Takeda (“Senior Executive Officer & Director”) is outdated: she now serves as Director, Audit and Supervisory Committee Member.

Recent officer changes

• Hiroshi Kiriyama transitioned from Representative Director, Group Chairperson to (non-representative) Director, Group Chairperson, effective 26 June 2025.
• Taisuke Matsuoka was appointed Representative Director, Senior Executive Officer, effective 26 June 2025, having previously served as Director, Senior Executive Officer.
• Junko Takeda moved from Representative Director/Senior Executive Officer to Director, Audit and Supervisory Committee Member, effective June 2026, per the company’s current organisation disclosure.

Data availability

Japan’s corporate registry system (the National Tax Agency Corporate Number Publication Site) discloses only the corporate number, name and address of a registered entity, not its individual directors; officer and director information for Cosmo Energy Holdings Co., Ltd. instead comes from its own investor-relations disclosures and Tokyo Stock Exchange filings. These sources do not publish nationality or country of residence for any director or executive officer, so these fields are recorded as not disclosed rather than absent by omission, and nationality has not been inferred from any name in this profile. The on-file registry’s officer list appears to mix current Executive Officers with at least one outdated role description and does not include the independent outside directors or Audit and Supervisory Committee members shown on the company’s own organisation page.

Sources

• Cosmo Energy Holdings Co., Ltd. official website, Organization/Directors and Auditors, https://www.cosmo-energy.co.jp/en/company/organization.html
• MarketScreener, “Cosmo Energy Holdings Co., Ltd. Announces Notice of Change of Representative Director, Effective June 26, 2025”

Group structure of Cosmo Energy Holdings Co., Ltd.

Cosmo Energy Holdings Co., Ltd. sits at the top of its own corporate group as a pure holding company; no parent company is disclosed for it in the sources reviewed. The on-file corporate-linkage data lists more than 25 operating entities beneath it across Japan, the Netherlands, the United Arab Emirates, Qatar, Singapore and the United States, organised through several intermediate holding tiers. Its principal operating subsidiaries, consistent with the group’s own Annual Report and Yuho (Annual Securities Report) disclosures, are Cosmo Oil Co., Ltd. (refining and domestic oil supply), Cosmo Oil Marketing Co., Ltd. (retail marketing, itself parent to further subsidiaries such as Cosmo Oil Sales Corporation and Cosmo Energy Solutions Co., Ltd.), Cosmo Eco Power Co., Ltd. (wind-power generation, renamed from its predecessor after the group’s 2019 acquisition of full ownership), Cosmo Engineering Co., Ltd. (engineering services) and Cosmo Energy Exploration & Production Co., Ltd., which in turn holds overseas exploration and production entities including Abu Dhabi Oil Co., Ltd. and Qatar Petroleum Development Co., Ltd. (Japan). Ownership percentages for individual entities were not separately disclosed in the sources reviewed. Information is current to the registry’s last sync of 11 August 2026.

Verified corporate relationships

Recent structural changes

• Cosmo Energy Holdings Co., Ltd. acquired 100% ownership of its wind-power generation subsidiary and undertook its rename to Cosmo Eco Power Co., Ltd., announced 28 May 2019.
• Cosmo Energy Holdings Co., Ltd. and Iwatani Corporation have expanded a hydrogen-related business and capital alliance since December 2023, including joint-venture activity such as Cosmo Iwatani Hydrogen Engineering LLC, a subsidiary of Cosmo Engineering Co., Ltd.

Data availability

Corporate-linkage information for this group is partial: the on-file registry confirms the identity, jurisdiction and registration number of each linked entity but does not disclose the exact ownership tier or percentage for any individual subsidiary, so relationships are described as “direct or indirect subsidiary” rather than precisely classified. The structure shown is consistent with, but not a complete restatement of, the operating-company list in Cosmo Energy Holdings Co., Ltd.’s own Annual Report and Yuho filings.

Sources

• Cosmo Energy Holdings Co., Ltd. official website, Corporate History, https://www.cosmo-energy.co.jp/en/company/history.html
• Cosmo Energy Holdings Co., Ltd. press release, “Cosmo Acquires 100% Ownership of Eco Power (Wind Power Generation Business) and Plans to Change Company Name”, 28 May 2019
• Cosmo Energy Holdings Co., Ltd. press release, “SAFFAIRE SKY ENERGY LLC Established for the First Large-Scale Domestic Production of SAF”, 8 November 2022