<h3>關鍵洞察</h3>
<ul>
<li>由於機構在該股票中持有大量股份，九電工的股價可能會受到其交易決策的影響</li>
<li>前 11 大股東持有 51% 的股份</li>
<li>結合分析師預測數據和股東研究，可以更好地評估公司的未來表現</li>
</ul>
<p>每位九電工（TSE:1959）的投資者都應該瞭解最強大的股東羣體。而持有最大股份的羣體是機構投資者，擁有 38% 的股份。換句話説，這個羣體在對公司的投資中最有可能獲得最大收益（或遭受最大損失）。</p>
<p>因此，上週機構投資者在市值下降 130 億日元后遭受了最大的損失。不用説，最近的損失進一步加重了股東一年來 16% 的損失，尤其對於這一類股東來説，可能不會太好。通常被稱為 “市場推動者”，機構在影響任何股票的價格動態方面擁有顯著的權力。因此，如果這種下降持續，機構投資者可能會受到壓力出售九電工，這可能會對個人投資者造成傷害。</p>
<p>在下面的圖表中，我們聚焦於九電工的不同股東羣體。</p>
<p>查看我們對九電工的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154"/></p>
<p>TSE:1959 股東結構 2025 年 2 月 19 日</p>
<h2>機構持股對九電工的啓示是什麼？</h2>
<p>機構通常在向自己的投資者報告時會以基準進行衡量，因此一旦某隻股票被納入主要指數，他們往往會對該股票更加熱衷。我們預計大多數公司在登記時會有一些機構投資者，尤其是當它們正在增長時。</p>
<p>我們可以看到九電工確實有機構投資者，他們持有公司相當一部分的股票。這可能表明該公司在投資界具有一定的信譽。然而，最好對依賴機構投資者所帶來的所謂驗證保持警惕。他們有時也會犯錯。如果兩家大型機構投資者同時試圖拋售某隻股票，股價大幅下跌並不罕見。因此，查看九電工過去的盈利軌跡是值得的（見下文）。當然，也要記住還有其他因素需要考慮。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545"/></p>
<p>TSE:1959 盈利和收入增長 2025 年 2 月 19 日</p>
<p>對沖基金在九電工的股份不多。根據我們的數據，最大股東是九州電力公司，持有 23% 的流通股份。同時，第二和第三大股東分別持有 4.8% 和 4.6% 的流通股份。</p>
<p>仔細查看我們的持股數據，前 11 大股東的合計持股為 51%，這意味着沒有單一股東擁有多數股份。</p>
<p>研究機構持股是評估和篩選股票預期表現的好方法。通過研究分析師的情緒也可以實現這一點。相當多的分析師覆蓋該股票，因此您可以很容易地查看預測增長。</p>
<h2>九電工的內部持股</h2>
<p>雖然內部人的確切定義可能是主觀的，但幾乎所有人都認為董事會成員是內部人。公司管理層向董事會負責，而董事會應代表股東的利益。值得注意的是，有時高層管理人員本身也在董事會中。</p>
<p>我通常認為內部持股是件好事。然而，在某些情況下，這使得其他股東更難讓董事會對決策負責。</p>
<p>我們的信息表明，九電工的內部人持有不到 1% 的股份。它是一家大公司，因此即使是小比例的利益也能在董事會和股東之間創造一致性。在這種情況下，內部人持有價值 5.57 億日元的股份。看到至少一些內部持股總是好的，但值得檢查這些內部人是否在出售。</p>
<h2>公眾持股</h2>
<p>公眾，通常是個人投資者，持有九電工 35% 的股份。雖然這個持股比例相當可觀，但如果決策與其他大股東不同，可能不足以改變公司政策。</p>
<h2>公眾公司持股</h2>
<p>我們可以看到公眾公司持有 24% 的九電工股份。這可能是出於戰略利益，兩家公司可能有相關的商業利益。它們可能已經進行過分拆。這個持股可能值得進一步調查。</p>
<h2>下一步：</h2>
<p>我發現研究誰真正擁有一家公司非常有趣。但要真正獲得洞察，我們還需要考慮其他信息。例如，我們已經確定了 <strong>九電工的 1 個警示信號</strong>，您應該注意。</p>
<p>如果您像我一樣，您可能想考慮這家公司是會增長還是縮小。幸運的是，您可以查看這份免費的報告，瞭解分析師對其未來的預測。</p>
<p>注：本文中的數據是根據過去 12 個月的數據計算的，指的是財務報表日期所在月份的最後一天結束的 12 個月期間。這可能與全年年報數據不一致。</p>

1959

<p>九電控股公司（東京證券交易所代碼：1959）股價下跌 3.7%，導致一年內損失達到 16%。持有 38% 股份的機構投資者受到特別影響，市值下降了 130 億日元。前 11 大股東擁有公司 51% 的股份，顯示出對股價動態的顯著影響。雖然機構持股可以傳遞出可信度，但如果大型投資者同時決定出售，也會帶來風險。公眾持有 35% 的股份，上市公司持有 24%，但與機構股東相比，他們的影響力可能有限</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>關鍵洞察</h3>
</div><ul>
<li>Given the large stake in the stock by institutions, Kyudenko's stock price might be vulnerable to their trading decisions</li>
<li>51% of the business is held by the top 11 shareholders</li>
<li>Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company</li>
</ul>
<div class="lb-trans"><ul>
<li>由於機構在該股票中持有大量股份，九電工的股價可能會受到其交易決策的影響</li>
<li>前 11 大股東持有 51% 的股份</li>
<li>結合分析師預測數據和股東研究，可以更好地評估公司的未來表現</li>
</ul>
</div><p>Every investor in Kyudenko Corporation (TSE:1959) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are institutions with 38% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.</p>
<div class="lb-trans"><p>每位九電工（TSE:1959）的投資者都應該瞭解最強大的股東羣體。而持有最大股份的羣體是機構投資者，擁有 38% 的股份。換句話説，這個羣體在對公司的投資中最有可能獲得最大收益（或遭受最大損失）。</p>
</div><p>As a result, institutional investors endured the highest losses last week after market cap fell by JP¥13b. Needless to say, the recent loss which further adds to the one-year loss to shareholders of 16% might not go down well especially with this category of shareholders. Often called “market movers&#34;, institutions wield significant power in influencing the price dynamics of any stock. As a result, if the decline continues, institutional investors may be pressured to sell Kyudenko which might hurt individual investors.</p>
<div class="lb-trans"><p>因此，上週機構投資者在市值下降 130 億日元后遭受了最大的損失。不用説，最近的損失進一步加重了股東一年來 16% 的損失，尤其對於這一類股東來説，可能不會太好。通常被稱為 “市場推動者”，機構在影響任何股票的價格動態方面擁有顯著的權力。因此，如果這種下降持續，機構投資者可能會受到壓力出售九電工，這可能會對個人投資者造成傷害。</p>
</div><p>In the chart below, we zoom in on the different ownership groups of Kyudenko.</p>
<div class="lb-trans"><p>在下面的圖表中，我們聚焦於九電工的不同股東羣體。</p>
</div><p>Check out our latest analysis for Kyudenko</p>
<div class="lb-trans"><p>查看我們對九電工的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154" alt="" original-src="https://images.simplywall.st/asset/chart/880331-ownership-breakdown-1-dark/1740005885154"/></p>
<p>TSE:1959 Ownership Breakdown February 19th 2025</p>
<div class="lb-trans"><p>TSE:1959 股東結構 2025 年 2 月 19 日</p>
</div><h2>What Does The Institutional Ownership Tell Us About Kyudenko?</h2>
<div class="lb-trans"><h2>機構持股對九電工的啓示是什麼？</h2>
</div><p>Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.</p>
<div class="lb-trans"><p>機構通常在向自己的投資者報告時會以基準進行衡量，因此一旦某隻股票被納入主要指數，他們往往會對該股票更加熱衷。我們預計大多數公司在登記時會有一些機構投資者，尤其是當它們正在增長時。</p>
</div><p>We can see that Kyudenko does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Kyudenko, (below). Of course, keep in mind that there are other factors to consider, too.</p>
<div class="lb-trans"><p>我們可以看到九電工確實有機構投資者，他們持有公司相當一部分的股票。這可能表明該公司在投資界具有一定的信譽。然而，最好對依賴機構投資者所帶來的所謂驗證保持警惕。他們有時也會犯錯。如果兩家大型機構投資者同時試圖拋售某隻股票，股價大幅下跌並不罕見。因此，查看九電工過去的盈利軌跡是值得的（見下文）。當然，也要記住還有其他因素需要考慮。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545" alt="" original-src="https://images.simplywall.st/asset/chart/880331-earnings-and-revenue-growth-1-dark/1740005886545"/></p>
<p>TSE:1959 Earnings and Revenue Growth February 19th 2025</p>
<div class="lb-trans"><p>TSE:1959 盈利和收入增長 2025 年 2 月 19 日</p>
</div><p>Hedge funds don't have many shares in Kyudenko. Looking at our data, we can see that the largest shareholder is Kyushu Electric Power Company, Incorporated with 23% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 4.8% and 4.6%, of the shares outstanding, respectively.</p>
<div class="lb-trans"><p>對沖基金在九電工的股份不多。根據我們的數據，最大股東是九州電力公司，持有 23% 的流通股份。同時，第二和第三大股東分別持有 4.8% 和 4.6% 的流通股份。</p>
</div><p>A closer look at our ownership figures suggests that the top 11 shareholders have a combined ownership of 51% implying that no single shareholder has a majority.</p>
<div class="lb-trans"><p>仔細查看我們的持股數據，前 11 大股東的合計持股為 51%，這意味着沒有單一股東擁有多數股份。</p>
</div><p>Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.</p>
<div class="lb-trans"><p>研究機構持股是評估和篩選股票預期表現的好方法。通過研究分析師的情緒也可以實現這一點。相當多的分析師覆蓋該股票，因此您可以很容易地查看預測增長。</p>
</div><h2>Insider Ownership Of Kyudenko</h2>
<div class="lb-trans"><h2>九電工的內部持股</h2>
</div><p>While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.</p>
<div class="lb-trans"><p>雖然內部人的確切定義可能是主觀的，但幾乎所有人都認為董事會成員是內部人。公司管理層向董事會負責，而董事會應代表股東的利益。值得注意的是，有時高層管理人員本身也在董事會中。</p>
</div><p>I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.</p>
<div class="lb-trans"><p>我通常認為內部持股是件好事。然而，在某些情況下，這使得其他股東更難讓董事會對決策負責。</p>
</div><p>Our information suggests that Kyudenko Corporation insiders own under 1% of the company. It's a big company, so even a small proportional interest can create alignment between the board and shareholders. In this case insiders own JP¥557m worth of shares. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling.</p>
<div class="lb-trans"><p>我們的信息表明，九電工的內部人持有不到 1% 的股份。它是一家大公司，因此即使是小比例的利益也能在董事會和股東之間創造一致性。在這種情況下，內部人持有價值 5.57 億日元的股份。看到至少一些內部持股總是好的，但值得檢查這些內部人是否在出售。</p>
</div><h2>General Public Ownership</h2>
<div class="lb-trans"><h2>公眾持股</h2>
</div><p>The general public, who are usually individual investors, hold a 35% stake in Kyudenko. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.</p>
<div class="lb-trans"><p>公眾，通常是個人投資者，持有九電工 35% 的股份。雖然這個持股比例相當可觀，但如果決策與其他大股東不同，可能不足以改變公司政策。</p>
</div><h2>Public Company Ownership</h2>
<div class="lb-trans"><h2>公眾公司持股</h2>
</div><p>We can see that public companies hold 24% of the Kyudenko shares on issue. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.</p>
<div class="lb-trans"><p>我們可以看到公眾公司持有 24% 的九電工股份。這可能是出於戰略利益，兩家公司可能有相關的商業利益。它們可能已經進行過分拆。這個持股可能值得進一步調查。</p>
</div><h2>Next Steps:</h2>
<div class="lb-trans"><h2>下一步：</h2>
</div><p>I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For instance, we've identified <strong>1 warning sign for Kyudenko</strong> that you should be aware of.</p>
<div class="lb-trans"><p>我發現研究誰真正擁有一家公司非常有趣。但要真正獲得洞察，我們還需要考慮其他信息。例如，我們已經確定了 <strong>九電工的 1 個警示信號</strong>，您應該注意。</p>
</div><p>If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.</p>
<div class="lb-trans"><p>如果您像我一樣，您可能想考慮這家公司是會增長還是縮小。幸運的是，您可以查看這份免費的報告，瞭解分析師對其未來的預測。</p>
</div><p>NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.</p>
<div class="lb-trans"><p>注：本文中的數據是根據過去 12 個月的數據計算的，指的是財務報表日期所在月份的最後一天結束的 12 個月期間。這可能與全年年報數據不一致。</p>
</div>

由於 Kyudenko Corporation（TSE:1959）最近下跌了 3.7%，增加了一年的損失，機構所有者可能會採取戲劇性的行動