Rationality Review and Reduction of Strategic Shareholdings
First written in FY2021. 1 of 3 entries say "Softened", first in FY2023. Latest entry: FY2025.
14 other companies' latest entry also says "Other".
- FY2025Reduction target specified as 2 securitiesAnnual report
「In addition, the policy is to reduce the shares held in 2 securities in the future.」
The Company continues to review the rationale for its cross-shareholdings and has specified the future reduction target more concretely, changing it from “some securities” to 2 securities. - FY2023SoftenedAnnual report
「As a result, for every security, either the dividend yield exceeded the relevant cost of capital or an unrealized gain was recognized, and no decision was made to consider an immediate sale. However, the policy is to reduce the shares held in some securities in the future.」
The review of the rationale for cross-shareholdings continues, but the description of the scope targeted for reduction has become less specific, changing from “approximately 20% of the securities” in the previous disclosure to “some securities.” - FY2021First statedAnnual report
「The Board of Directors reviewed the holding policy for all securities held as of the end of March 2021. As a result, for every security, either the dividend yield exceeded the relevant cost of capital or an unrealized gain was recognized, and no decision was made to consider an immediate sale. However, the policy is to reduce the number of shares held in approximately 20% of the securities in the future.」
The Company reviewed its cross-shareholdings based on cost of capital, dividend yield, unrealized gains, transaction status and other factors, and for the first time explicitly stated a policy of reducing the number of shares held in approximately 20% of the securities in the future.