Review of the Rationale for Strategic Shareholdings and Reduction of Unreasonable Holdings
First written in FY2019. 5 of 9 entries say "Advanced", first in FY2021. Latest entry: FY2026.
3 other companies' latest entry also says "Raised".
- FY2026RaisedAnnual report
「Under the medium-term management plan through fiscal 2030 (2025-2030), the company aims to reduce the balance-sheet carrying amount of cross-shareholdings to 5% of consolidated net assets by fiscal 2030 and will progressively reduce the holdings, taking its financial position into account.」
The target for cross-shareholdings was lowered from below 10% of consolidated net assets to 5% by fiscal 2030, clarifying the reduction policy. During the fiscal year, the company sold 6 issues for a total sale price of ¥13,157 million. - FY2025AdvancedAnnual report
「The company will progressively reduce the balance-sheet carrying amount of cross-shareholdings, taking its financial position into account, with the aim of keeping it below 10% of consolidated net assets.」
The company explicitly set a guideline of keeping cross-shareholdings below 10% of consolidated net assets. It sold 10 listed issues for a total sale price of ¥9,767 million. - FY2024AdvancedAnnual report
「Shares other than unlisted shares 11 5,852」
As a result of verifying the rationale for cross-shareholdings, the company sold 11 listed issues for a total sale price of ¥5,852 million. - FY2024-Q3RestatedAnnual report
「The main factors were that, although the company repurchased treasury shares pursuant to a resolution of the Board of Directors dated 14 November 2023, retained earnings increased due to an increase in the foreign currency translation adjustment account resulting from the weaker yen and quarterly net income attributable to owners of the parent.」
No new change to the policy of reducing cross-shareholdings is described. Financially, the company repurchased treasury shares while also recording an increase in the foreign currency translation adjustment account due to the weaker yen and other factors. - FY2023AdvancedAnnual report
「Shares other than unlisted shares 8 4,747」
As a result of verifying the rationale for cross-shareholdings, the company sold 8 listed issues for a total sale price of ¥4,747 million. - FY2022AdvancedAnnual report
「Shares other than unlisted shares 8 5,772」
As a result of verifying the rationale for cross-shareholdings, the company sold 8 listed issues for a total sale price of ¥5,772 million. - FY2021AdvancedAnnual report
「As a result, the company proceeds with the sale of shares it determines, in light of its ownership policy, do not need to be held on an ongoing basis.」
The company continued its annual verification of the rationale for cross-shareholdings and sold 1 unlisted issue and 5 listed issues during the fiscal year. The total sale price of the listed shares was ¥7,262 million. - FY2020RestatedAnnual report
「At Board of Directors meetings, the company comprehensively verifies the benefits and other factors associated with holding shares, based on whether each individual cross-shareholding held for purposes other than pure investment is reasonable in light of the cost of capital and the purpose of ownership. The company proceeds with the sale of shares it determines do not need to be held on an ongoing basis.」
The company continues its policy of verifying the rationale for cross-shareholdings in light of the cost of capital and the purpose of ownership, and selling holdings that are no longer necessary. - FY2019First statedAnnual report
「The company holds shares for purposes other than pure investment in business partners, business alliance partners and companies with which transactions or business alliances are expected in the future, with the aim of strengthening those cooperative relationships to enjoy and expand synergies in both companies' businesses. Accordingly, after comprehensively considering the prospects for future transactions and business alliances, the company reduces holdings that are not beneficial to it.」
The company holds no shares for pure investment purposes. For cross-shareholdings held to create synergies through transactions and business alliances, the Board of Directors verifies the appropriateness of continued ownership in light of the cost of capital and the purpose of ownership, and the company states a policy of reducing holdings that are not beneficial.