Review of Strategic Shareholdings Held to Maintain and Strengthen Business Relationships
First written in FY2016. 5 of 12 entries say "Advanced", first in FY2020. Latest entry: 2026-06-30.
51 other companies' latest entry also says "Restated".
- 2026-06-30RestatedGovernance
「政策保有株式として引き続き保有する上場株式については、毎年個別の銘柄ごとに受取配当金や関連する収益が資本コスト（WACC）を上回っているかを定量的に検証するとともに、当社企業価値の向上に寄与しているかといった定性面についても精査し、保有意義の見直しを行っています。」
政策保有株式について、WACCとの比較および定性評価による個別銘柄の見直し方針を継続している。 - FY2026Higher holdings and continued salesAnnual report
「Standalone shareholdings | Carrying amount (¥100 million) | End of March 2024: 799 | End of March 2025: 761 | End of March 2026: 1,022」
We continue our policy of reviewing each cross-shareholding by issue based on comparisons with WACC and qualitative assessments. The carrying amount of shares held on a standalone basis was ¥102.2 billion at the end of March 2026, and during the fiscal year we also sold shares, including 5 listed issues. - FY2025RestatedAnnual report
「For listed shares that we continue to hold as cross-shareholdings, we continue, as before, to quantitatively verify each year, for each individual issue, whether dividends received and related earnings exceed the cost of capital (WACC). We also carefully assess qualitative factors, including whether the holding contributes to enhancing our corporate value, and review the rationale for holding each investment.」
Even after completing the halving of listed cross-shareholdings by the end of March 2024, we continue our policy of reviewing each issue based on comparisons with WACC and qualitative assessments. - FY2024AchievedAnnual report
「As a result of our efforts to halve listed shares held on a consolidated basis by the end of March 2024, based on holdings worth ¥89.6 billion at the end of December 2020, we disposed of a cumulative ¥76.6 billion worth of shares, completing the plan as originally scheduled.」
By the end of March 2024, we had disposed of a cumulative ¥76.6 billion worth of listed cross-shareholdings, completing the policy of halving holdings from the December 2020 base as planned. - FY2024-Q2AdvancedAnnual report
「Cash provided by investing activities during the cumulative second-quarter period amounted to ¥4.6209 billion, despite investments in a frozen tuna processing and sales company and an Australian energy-conservation business, due mainly to proceeds from aircraft-related transactions and the sale of cross-shareholdings.」
Alongside investments in a frozen tuna processing and sales company and an Australian energy-conservation business, we realized proceeds from the sale of cross-shareholdings. Efforts to reduce cross-shareholdings are continuing. - FY2024-Q1AdvancedAnnual report
「Although the company invested in a frozen tuna processing and sales company and an Australian energy-saving business during the current three-month consolidated period, cash generated from aircraft-related transactions and the sale of cross-held shares resulted in cash provided by investing activities of ¥2.4041 billion.」
Proceeds from the sale of cross-shareholdings were realized as an investing activity in the first quarter, and disposals are continuing toward the policy of halving the holdings by the end of March 2024. - FY2023AdvancedAnnual report
「Based on listed shares held on a consolidated basis worth ¥89.6 billion at the end of December 2020, we planned to halve the amount by the end of March 2024, representing a reduction of ¥45.0 billion. After formulating a specific disposal plan, including the timing of execution, we had disposed of a cumulative ¥61.4 billion worth of shares by the end of March 2023.」
Against the policy of halving cross-shareholdings by the end of March 2024, we had disposed of a cumulative ¥61.4 billion worth of shares by the end of March 2023. - FY2022AdvancedAnnual report
「Based on the consolidated amount of listed shares held at the end of December 2020, we planned to reduce the amount by half by the end of March 2024. In fiscal 2021, after formulating a specific disposal plan, including the timing of execution, we disposed of ¥14.7 billion worth of shares by the end of March 2022, against holdings of ¥89.6 billion at the end of December 2020.」
We established a specific plan to halve cross-shareholdings by the end of March 2024 and had disposed of ¥14.7 billion worth of shares by the end of March 2022. - FY2020AdvancedAnnual report
「For general listed shares in Japan and overseas (※) held for purposes other than pure investment, we quantitatively verify each year, for each individual issue, whether dividends received and related earnings exceed the cost of capital (WACC). We also carefully assess qualitative factors, including whether the holding contributes to enhancing our corporate value, and review the rationale for holding each investment.」
We conducted an individual-issue review of cross-shareholdings, including comparisons with WACC. During the fiscal year, the number of shares held decreased for 20 unlisted issues and 5 listed issues. - FY2016First statedAnnual report
「When holding listed shares for purposes other than pure investment, we make a comprehensive assessment, including whether stronger relationships under our sales strategy are expected to generate earnings and whether holding the shares provides medium- to long-term earnings opportunities.」
Each year, we quantitatively verify the related earnings and dividends received for each investment and review the rationale for holding it.