Assessing the Purpose of Cross-Shareholdings and the Cost of Capital
First written in FY2019. 5 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2026.
105 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Following this fiscal year's review, we sold 3 unlisted stocks from among the stocks held.」
Based on the annual review of policy-held shares, 3 unlisted stocks were sold. The policy of continuing to assess whether the profits and dividends of investee companies exceed the cost of capital also remains in place. - FY2025AdvancedAnnual report
「Following this fiscal year's review, we sold 1 unlisted stock and 2 listed stocks, including those held by subsidiaries.」
Based on the annual review, 1 unlisted stock and 2 listed stocks were sold. Specific sales activity has resumed following the suspension of sales in the previous fiscal year. - FY2023SoftenedAnnual report
「As a result of this year's review, although the profitability of transactions with some investees was somewhat problematic, we determined that there was still a certain rationale for holding them and that the circumstances did not warrant an immediate sale, and therefore continued to hold them.」
The annual review continued, but no sales were made during the fiscal year, and the decision was made to continue holding stocks considered to have a certain strategic rationale. - FY2022AdvancedAnnual report
「As a result of a review conducted by the Board of Directors in January 2022, we decided to sell and executed the sale of shares in 3 companies because the rationale for holding them had diminished.」
The company continued its annual review of policy-oriented shareholdings, deciding to sell and executing the sale of shares in 3 companies for which the rationale for holding had diminished. The total sale proceeds were ¥576 million. - FY2021AdvancedAnnual report
「As a result of a review conducted by the Board of Directors in January 2021, we decided to sell and executed the sale of shares in 2 companies held by consolidated subsidiaries because the rationale for holding them had diminished. Although the profitability of transactions with some other investees was somewhat problematic, we determined that there was still a certain rationale for holding them and that the circumstances did not warrant an immediate sale, and therefore continued to hold them. We also executed the sale of shares in 2 companies that had been designated for sale in previous fiscal years.」
The company continued its annual review of policy-oriented shareholdings, decided to sell and executed the sale of shares in 2 companies during the year, and also executed the sale of shares in 2 companies previously designated for sale. - FY2020AdvancedAnnual report
「As a result of this year's review, we decided to sell shares in 3 companies for which the rationale for holding had diminished, and executed the sale of shares in 1 company.」
The company continued its annual review of policy-oriented shareholdings, decided to sell shares in 3 companies for which the rationale for holding had diminished, and executed the sale of shares in 1 of them. - FY2019First statedAnnual report
「Our Board of Directors reviews the rationale for holding policy-oriented shareholdings every year. For companies to which we sell our products, we assess whether the profits generated from commercial transactions exceed the cost of capital. For other investees, we assess whether benefits, including qualitative benefits, are being obtained.」
The company has, for the first time as an independent topic, described its policy of annually reviewing the rationale for policy-oriented shareholdings, using transaction profits and the cost of capital as criteria for customers and qualitative benefits as criteria for other investees.