Assessing the Rationale for Strategic Shareholdings Based on Business Relationships and Reducing Holdings
First written in FY2020. 4 of 7 entries say "Advanced", first in FY2022. Latest entry: FY2026.
104 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「The company continued its policy of reducing cross-shareholdings,”“Issues whose number of shares decreased during the fiscal year”“Shares other than unlisted shares”“3”“1,635”」
The company continued its policy of reducing cross-shareholdings and verifying their rationale through the Asset Management Committee, and reports that 3 issues were sold during the fiscal year for ¥1.635 billion. - FY2025AdvancedAnnual report
「“Issues whose number of shares decreased during the fiscal year”“Shares other than unlisted shares”“3”“1,419”」
The company continued to verify the rationale for cross-shareholdings and reports that 3 issues were sold during the fiscal year for ¥1.419 billion. - FY2024RaisedAnnual report
「We will continue our policy of reducing cross-shareholdings and plan to sell approximately ¥3 billion worth, equivalent to approximately 30% of the market value at the end of the fiscal year ending June 2024.」
For the reduction of cross-shareholdings, the target amount was increased from ¥1.5 billion under the previous medium-term plan to ¥3 billion over 3 years under the new plan. During the fiscal year, 3 issues were sold for ¥724 million. - FY2023AdvancedAnnual report
「“Issues whose number of shares decreased during the fiscal year”“Shares other than unlisted shares”“3”“529」
The company continued to verify the rationale for cross-shareholdings through the Asset Management Committee and reports that 3 issues were sold during the fiscal year for ¥529 million. - FY2022AdvancedAnnual report
「For shares held, the Asset Management Committee individually reviews the purpose of holding them, transaction volumes, the business partner’s operating environment, business performance and financial condition, and the dividend yield and share price volatility risk as an investment, carefully examines whether the holdings should be retained, and verifies the rationale for holding them by reporting the results to the Board of Directors.”“Issues whose number of shares decreased during the fiscal year”“Shares other than unlisted shares”“3”“566”」
The company specifies that the Asset Management Committee verifies the rationale for cross-shareholdings, and reports that 3 issues were sold during the fiscal year for ¥566 million. - FY2021RaisedAnnual report
「For cross-shareholdings, we will reduce the ratio to net assets by selling 20% of the holdings on a market-value basis.」
In addition to the existing policy of individually reviewing holdings and reducing shares deemed unnecessary, the new medium-term management plan sets a specific reduction target of selling 20% on a market-value basis. - FY2020First statedAnnual report
「In principle, we do not acquire or hold shares of business partners or other parties unless acquiring or holding the shares contributes to the smooth conduct of our business, the maintenance or strengthening of business relationships, and the enhancement of our corporate value over the medium to long term. For shares held, we individually examine the qualitative and quantitative benefits and risks of holding them, including the purpose of holding them, transaction volumes with the business partner, the business partner’s operating environment, business performance and financial condition, and the dividend yield and share price volatility risk as an investment. We have a policy of reducing holdings for shares whose continued ownership is not necessary.」
For cross-shareholdings, the company sets business relationships and contributions to medium- to long-term corporate value as the holding criteria, individually reviews the benefits and risks, and for the first time systematically describes its policy of reducing holdings that are not deemed necessary.