Minimum Necessary Strategic Shareholdings and Board Verification of Their Rationale
First written in FY2019. 3 of 6 entries say "Advanced", first in FY2023. Latest entry: FY2026.
105 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「We sell shares that are judged to have little rationale for continued ownership, taking various relevant circumstances into consideration, and seek to reduce our holdings.」
During the fiscal year, 1 unlisted strategic shareholding and 2 strategic shareholdings other than unlisted shares were sold, with total proceeds of ¥99 million and ¥164 million, respectively. - 2026-05-14AdvancedEarnings
「政策保有株については、経営戦略上の重要性や取引先との良好かつ円滑な関係構築・維持・強化等の必要性を総合的に勘案しながら、保有意義を検証しつつ売却を進めております。」
政策保有株式について、保有意義の検証を前提に売却を進める方針を再確認した。 - FY2024Continued Sale of Cross-ShareholdingsAnnual report
「Shares other than unlisted shares 1 201」
During the fiscal year, 1 strategic shareholding was sold, with total proceeds of ¥201 million recorded. The policy of retaining only the minimum necessary holdings and having the Board of Directors review them annually remains in place. - FY2023AdvancedAnnual report
「Shares other than unlisted shares 7 1,325」
During the fiscal year, 7 strategic shareholdings other than unlisted shares were sold, with total proceeds of ¥1,325 million recorded. The portfolio was reviewed under a policy of retaining only the minimum necessary holdings and having the Board of Directors verify their rationale. - FY2020RestatedAnnual report
「For each cross-shareholding, the company regularly conducts a detailed review of whether the purpose of holding it remains appropriate and whether the benefits and risks associated with the holding are commensurate with the cost of capital, among other matters, and the board of directors verifies the appropriateness of continuing to hold it every year.」
The company continued its policy of limiting cross-shareholdings to the minimum extent necessary and having the board of directors review them annually based on the relationship between their benefits and risks and the cost of capital. - FY2019First statedAnnual report
「The company may hold shares in other companies as cross-shareholdings to the minimum extent necessary when, after comprehensively considering factors such as their strategic importance and the need to establish, maintain and strengthen good and smooth relationships with business partners, it determines that the holdings will contribute to enhancing corporate value over the medium to long term. For each such cross-shareholding, the company regularly conducts a detailed review of whether the purpose of holding it remains appropriate and whether the benefits and risks associated with the holding are commensurate with the cost of capital, among other matters, and the board of directors verifies the appropriateness of continuing to hold it every year.」
The company explicitly stated for the first time its policy of limiting cross-shareholdings to the minimum extent necessary and having the board of directors annually verify whether they should be retained, including the relationship between their benefits and risks and the cost of capital.