Annual Review and Reduction Policy for Strategic Shareholdings
First written in FY2019. 4 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2026.
105 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「During the current fiscal year, the number of shares decreased for 1 issue other than unlisted shares, with total sale proceeds of ¥120 million.」
In line with its policy of annual reviews and reduction of cross-shareholdings, shares in 1 listed company were sold. - FY2024AdvancedAnnual report
「The shares had been held to expand business transactions and as trust assets related to retirement benefits, but all shares were sold during the current consolidated accounting year.」
In line with its policy of reviewing and reducing cross-shareholdings, all shares held in TAISEI CORPORATION, which had become the parent company, were sold on 29 February 2024. - FY2023AdvancedAnnual report
「The shares had been held to expand business transactions and as trust assets related to retirement benefits, but all shares were sold during the current consolidated accounting year.」
In line with its policy of reviewing and reducing cross-shareholdings, all shares held in Chubu Electric Power Company,Incorporated were sold during the fiscal year. - FY2021AdvancedAnnual report
「At a Board of Directors meeting held in September 2020, the company confirmed the appropriateness of holding the specified investment shares and shares held as retirement benefit trust assets on an individual-issue basis, determining that most of the holdings under review were held for the purpose of increasing long-term economic benefits.」
An annual review was conducted, and while most holdings were judged suitable for continued ownership, some shares that had continuously underperformed the cost of capital were sold. - FY2020RestatedAnnual report
「For all shares held for policy investment purposes, the Board of Directors conducts an annual and ongoing review of each individual issue, including whether the purpose of holding it is appropriate in relation to the business and whether the economic rationale, including benefits and risks, is appropriate」
The company continues to state its policy of annual reviews of cross-shareholdings and sales when their significance as holdings has diminished, while specifying the review methodology, including comparisons with order performance and outlook and the cost of capital. - FY2019First statedAnnual report
「For specified investment shares, the Board of Directors conducts an annual and ongoing review of each individual issue, including whether the purpose of holding it is appropriate in relation to the business, and whether the benefits and risks associated with holding it are commensurate with the acquisition cost. The Company decides to continue holding shares when it determines that they will help maintain and strengthen business relationships and contribute to the development of the Group's businesses. Shares whose significance as holdings is deemed to have diminished due to changes in the business environment are to be sold successively.」
For cross-shareholdings, the company has for the first time explicitly stated its policy of annual reviews by the Board of Directors and successive sales of issues whose significance as holdings has diminished.