Verifying the Rationale for Cross-Shareholdings
First written in FY2021. 2 of 3 entries say "Restated". Latest entry: FY2025.
49 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「For the strategic shareholdings held by the Company, we regularly report to the Board of Directors and assess the economic rationale for holding each security by comparing the benefits of holding it, including dividends received and profits from business transactions, with the Company’s cost of capital. We determine whether to continue holding each security by comprehensively considering the maintenance and strengthening of business relationships and the medium- to long-term benefits of holding it, among other factors.」
The policy of regularly reviewing the rationality of cross-shareholdings at Board of Directors meetings continues. - FY2022RestatedAnnual report
「We hold shares as cross-shareholdings only when we determine that doing so will contribute to improving our corporate value over the medium to long term, from the perspective of maintaining and strengthening stable, long-term business relationships with our business partners. With respect to cross-shareholdings, we report regularly to the Board of Directors and verify the economic rationality of holding each issue by comparing the benefits of holding it, namely dividends received and profits from business transactions, with our cost of capital. We then determine whether to continue holding each issue after comprehensively considering the maintenance and strengthening of business relationships and the medium- to long-term benefits of holding the shares.」
The policy on cross-shareholdings, regular reporting to the Board of Directors, and rationality verification by comparing benefits with the cost of capital continue. - FY2021First statedAnnual report
「With respect to cross-shareholdings, we report regularly to the Board of Directors and verify the economic rationality of holding each issue by comparing the benefits of holding it, namely dividends received and profits from business transactions, with our cost of capital. We then determine whether to continue holding each issue after comprehensively considering the maintenance and strengthening of business relationships and the medium- to long-term benefits of holding the shares.」
The company has disclosed for the first time its policy of regularly reporting cross-shareholdings to the Board of Directors, comparing dividends received and profits from business transactions with the cost of capital, and verifying the rationality of holdings based on business relationships and medium- to long-term benefits.