Review of the Rationale for Strategic Shareholdings and Reduction of Holdings
First written in FY2020. 4 of 7 entries say "Advanced", first in FY2021. Latest entry: FY2026.
104 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Shares other than unlisted shares 1 24,317」
For cross-shareholdings, the company discloses that it sold 1 holding other than an unlisted shareholding and continues to reduce its holdings. - FY2025AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Unlisted shares 1 299,556 / Shares other than unlisted shares 5 322,634」
For cross-shareholdings, the company discloses that it sold 1 unlisted holding and 5 holdings other than unlisted shareholdings during the fiscal year, making concrete progress in reducing its holdings. - FY2024RestatedAnnual report
「Holdings whose number of shares decreased during the fiscal year Shares other than unlisted shares 2 175,309」
For cross-shareholdings, the company reconfirms its record of selling 2 holdings other than unlisted shareholdings and its policy of reviewing the rationale for holdings at least once a year in principle. - FY2023RestatedAnnual report
「The company will assess the significance of holdings whose original purpose or rationale has become less relevant and consider selling them after consulting with the relevant counterparties. The holdings subject to this review were also identified.」
The company continues its policy of reviewing the rationale for cross-shareholdings at least once a year in principle and considering the sale of holdings whose significance has diminished. - FY2022AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Shares other than unlisted shares 2 76,742」
For cross-shareholdings, the company reports that it sold 2 holdings other than unlisted shareholdings during the fiscal year, providing specific evidence of reductions in its holdings. - FY2021AdvancedAnnual report
「The rationale for holding each individual share is reviewed by the Board of Directors at least once a year in principle, based on the criteria described above. The company will assess the significance of holdings whose original purpose or rationale has become less relevant and consider selling them after consulting with the relevant counterparties. The holdings subject to this review were also identified.」
For cross-shareholdings, the company describes annual or more frequent reviews by the Board of Directors, specific review criteria, and the identification of holdings whose significance has diminished and consideration of their sale. It also sold 1 holding other than an unlisted shareholding. - FY2020First statedAnnual report
「Our basic policy on cross-shareholdings is not to acquire new holdings where there is no rational basis for holding them, and to reduce existing holdings. We determine whether holdings are rational by comprehensively considering the need to maintain and strengthen business relationships, the mitigation of risks associated with shareholdings, capital efficiency and other factors, based on whether the holdings contribute to increasing our corporate value.」
For the first time, the company has described a basic policy of restraining new cross-shareholdings, reducing existing holdings and having the Board of Directors review their rationale.