Review of Strategic Shareholdings Based on Business Strategy and Cost of Capital

「In exercising voting rights attached to these shares, the Company does not make mechanical decisions based on specific criteria. Instead, it carefully examines each proposal and decides whether to vote for or against it by comprehensively considering whether the proposal is consistent with the Company's holding policy, whether it will contribute to the sound management of the issuing company, and whether it is expected to enhance corporate value, among other factors.」

「The Company makes cross-shareholdings after the Board of Directors or the Representative Director, depending on the number of shares held, has comprehensively considered the business strategy and business relationships with counterparties, and verified the appropriateness of the purpose of holding the shares, whether the benefits and risks associated with holding them are commensurate with the cost of capital, and whether the funds could be deployed more effectively elsewhere.」

「The Company makes cross-shareholdings after the Board of Directors or the Representative Director, depending on the number of shares held, has comprehensively considered the business strategy and business relationships with counterparties, and verified the appropriateness of the purpose of holding the shares, whether the benefits and risks associated with holding them are commensurate with the cost of capital, and whether the funds could be deployed more effectively elsewhere.」