Verification of the Rationale for Strategic Shareholdings and Policy on Reducing Them
First written in FY2022. 3 of 4 entries say "Advanced", first in FY2023. Latest entry: FY2026.
105 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Issues for which the number of shares increased during the fiscal year Unlisted shares 2 620 To make investments deemed necessary for the Company's business strategy」
While maintaining its policy of verifying the objectives of cross-shareholdings and their profitability relative to the cost of capital and holding discussions regarding sales, the Company acquired 2 unlisted shareholdings for a total of ¥620 million, having determined them necessary for its business strategy. - FY2024AdvancedAnnual report
「Following a review by the Company's Board of Directors of the cross-shareholdings subject to verification, from the perspectives of the achievement of their holding objectives and profitability relative to the cost of capital, the Company identified the cross-shareholdings that should be retained and those that should not. It decided to hold discussions with the issuers or their shareholders regarding the sale of the latter holdings. Unlisted shares: Total acquisition price relating to an increase in the number of shares: ¥140 million」
The Company specified a process under which the Board of Directors verifies the achievement of the objectives of cross-shareholdings and their profitability relative to the cost of capital, and identifies holdings subject to discussions regarding sales. Meanwhile, it acquired ¥140 million of unlisted shares to maintain and strengthen collaboration and cooperation. - FY2023AdvancedAnnual report
「At a meeting of the Board of Directors held on 2 May 2023, the Company resolved to sell investment securities and sold them on 14 May 2023. The purpose was to improve asset efficiency through a review of cross-shareholdings. Proceeds from the sale of investment securities: ¥3,456 million.」
Based on its review of cross-shareholdings, the Company sold 1 unlisted shareholding for ¥3,456 million. The verification of the significance of holdings and the reduction policy have progressed to a specific sale as a subsequent event. - FY2022First statedAnnual report
「Each year, we verify the necessity and rationale for our cross-shareholdings and review their purpose and policy at the Board of Directors. If the review finds that the purpose of a cross-shareholding has become less significant, we will reduce the holding by selling it unless there is a recognized purpose for holding it as a pure investment.」
The Company first disclosed a policy of annually reviewing the necessity and rationale of cross-shareholdings, reassessing them at the Board of Directors and selling and reducing holdings when their purpose has diminished.