Risk of Share Price Fluctuations in Held Shares
First written in FY2016. 3 of 6 entries say "Mitigated", first in FY2020. Latest entry: FY2026.
The whole theme swung hardest in 2019: 19 of 57 companies on the "Worse" side.
28 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Issues whose number of shares decreased during the fiscal year: unlisted shares 2 ¥42 million; shares other than unlisted shares 7 ¥964 million」
For cross-shareholdings, 2 unlisted issues and 7 listed or other issues were reduced during the year, and total sale proceeds of ¥1,006 million were disclosed. - FY2025MitigatedAnnual report
「Once a year, the Board of Directors reviews its policy for each holding, formulated by the finance division and the departments responsible for the relevant business relationships, with reference to transaction size and business earnings and dividend income. The policy for each individual issue is considered based on criteria including strategic importance, securing returns commensurate with the holding costs, including the cost of capital, and improving corporate value over the medium to long term. If the Board determines that there is little economic rationale for continuing to hold a particular shareholding, it will consider the economic environment at the time and gains or losses on disposal, engage in dialogue with the investee, and sell the shares at an appropriate time.」
The annual individual review and sale policy for cross-shareholdings are reconfirmed. During the year, holdings were reduced by 2 unlisted issues and 1 listed issue or other issue. - FY2020MitigatedAnnual report
「For each policy-held shareholding, we assess the appropriateness of continuing to hold it individually. If the Board of Directors or another body determines that there is little economic rationale for continuing to hold a particular shareholding, we consider the economic environment at the time and gains or losses on disposal, engage in dialogue with the investee, and take steps such as selling the shares at an appropriate time.」
It describes individual reviews of cross-shareholdings and the sale of holdings with limited rationale. In the fiscal year ended March 2020, 9 issues were sold for total proceeds of ¥784 million. - FY2018RestatedAnnual report
「108 issues ¥11,197 million」
It states that the Group holds 108 investment securities valued at ¥11,197 million to maintain and strengthen business relationships. The nature of the share price fluctuation risk remains unchanged. - FY2017RestatedAnnual report
「Accordingly, depending on stock-market trends or the business performance of companies whose shares are held, the respective share prices may fluctuate significantly, potentially having a material impact on the group's business performance and financial condition.」
The risk of share price fluctuations for shares held to maintain business relationships is reiterated. - FY2016First statedAnnual report
「Depending on stock market trends and the performance of companies whose shares are held, the share prices concerned may fluctuate significantly, potentially having a material impact on the Group's performance and financial position.」
The Group holds 114 issues valued at ¥7,825 million to maintain and strengthen business relationships.