Analysis and Visualization of the Shareholding Networks for Stock Market Environment in Post-War Japan

Shuhei Miyake, Kousuke Yoshizawa, Naoko Sakurai, Takeshi Fujiwara, Zeyu Zheng, Xiang Gao, Kazuko Yamasaki

Abstract


There are various types of relationships between companies. These include the relationships involved in financial and business transactions, relationships of dispatching and interlocking executives, and capital ties from the possession of stocks. In this paper, we perform a network analysis from 1950-2010 on individuals and major shareholder data from the top 10 corporate shareholders that have had a major impact on the management of companies listed on the stock market in post-war Japan, and clarify how the structure of shareholding has changed.

The results show that in recent years the shareholding ratio of financial institutions with the old financial system have relatively decreased, and on the other hand, the ownership ratio of custodian banks, such as trust banks, where it is difficult to see the actual shareholders, has increased. Further, when looking at the holding companies such as these trust banks that are not listed on the stock exchange; we see that large corporations that are focused on financial institutions are the major shareholders. Custodians, such as trust banks, are players in the stock market, using a large quantity of capital accumulated from their customers, and it is thought that they will have a massive effect on the market in the future. In this paper, we effectively use Cytoscape for network analysis and visualization.

Keywords:

Network Analysis, Shareholding Network, Stock Market Environment, Post-War Japan, Custodian Bank

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