However, there is another theory that it was painted by Yoshitsugu HATAKEYAMA as there were some questions, for example, that there was no evidence which showed that he was away from Noto at that time ("the mystery of the portrait of Shingen Takeda" by Masayuki FUJIMOTO).
しかし、この時期能登から出た形跡が無いこと。などの疑問点から、畠山義続ではないかという学説が出ている（藤本正行『武田信玄像の謎』）。