Reduction of Strategic Shareholdings and Verification Against the Cost of Capital
First written in FY2019. 7 of 10 entries say "Advanced", first in FY2020. Latest entry: 2026-06-19.
3 other companies' latest entry also says "Cited as achieved".
- 2026-06-19Cited as achievedGovernance
「In fiscal 2025, we sold 1 listed stock and 4 unlisted stocks.」
Disclosed the fiscal 2025 sales of policy-held shares, comprising 1 listed stock and 4 unlisted stocks, and also presented the Board of Directors' review results regarding whether strategic holdings continued to qualify as such. - FY2026AdvancedAnnual report
「In fiscal 2025, the Company sold 4 unlisted issues and 1 issue other than unlisted shares, for a total of 5 issues, generating proceeds of ¥2.5 billion.」
For cross-shareholdings, the Company clarified its approach to strategic holdings by confirming the required return relative to WACC and other measures and the benefits of each holding, and sold 5 issues for ¥2.5 billion. - 2026-05-19RestatedGeneral Meetings of Shareholders
「In addition, the Board of Directors will review each year whether the securities held for strategic purposes continue to qualify as such, and will disclose the results of the review in the Corporate Governance Report.」
Reaffirmed the annual review and disclosure policy for policy-held shares, using measures such as WACC. - FY2025AdvancedAnnual report
「In fiscal 2024, the Company sold 6 unlisted issues and 14 issues other than unlisted shares, for a total of 20 issues, generating proceeds of ¥13.5 billion.」
For cross-shareholdings, the Company sold 6 unlisted issues and 14 listed and other issues, for a total of 20 issues, and disclosed sale proceeds of ¥13.5 billion. - FY2024AdvancedAnnual report
「Issues with a decrease in the number of shares during the fiscal year: unlisted shares, 7 issues, total sale proceeds ¥1,561 million; shares other than unlisted shares, 8 issues, total sale proceeds ¥8,496 million」
For cross-shareholdings subject to annual verification of their consistency with WACC, the Company sold 7 unlisted issues and 8 listed issues, recording total sale proceeds of approximately ¥10 billion. - FY2023AdvancedAnnual report
「Issues with a decrease in the number of shares during the fiscal year: unlisted shares, 5 issues, total sale proceeds ¥17 million; shares other than unlisted shares, 6 issues, total sale proceeds ¥2,215 million」
The Company annually verified the consistency of its cross-shareholdings with WACC and sold 5 unlisted issues and 6 listed issues. At the same time, it continued making unlisted investments that could lead to the creation of new business models. - FY2022AdvancedAnnual report
「Issues with a decrease in the number of shares during the fiscal year Unlisted shares: － issues; total sale proceeds: － million Shares other than unlisted shares: 3 issues; total sale proceeds: ¥2,169 million」
For cross-shareholdings, the Company verified their consistency with the cost of capital annually through the Board of Directors and sold 3 listed issues. At the same time, it continued making unlisted investments in startups and other companies that could lead to the creation of new business models. - FY2021AdvancedAnnual report
「Issues with a decrease in the number of shares during the fiscal year Unlisted shares: 2 issues; total sale proceeds: ¥7 million Shares other than unlisted shares: 8 issues; total sale proceeds: ¥1,404 million」
For cross-shareholdings, the Board of Directors verified the consistency of each holding with the cost of capital, and the Company sold 8 listed issues and 2 unlisted issues. At the same time, it made unlisted investments in startups and other companies that could lead to the creation of new business models. - FY2020AdvancedAnnual report
「For each cross-shareholding, the Company scrutinises whether the purpose of holding it is appropriate and whether its benefits and risks are commensurate with the cost of capital, and the Board of Directors verifies the appropriateness of holding it annually.」
The Company sold 2 unlisted issues and 10 listed issues of cross-shareholdings, for total proceeds of ¥9.447 billion. It continued the practice of having the Board of Directors verify annually whether the holdings are consistent with the cost of capital. - FY2019First statedAnnual report
「The Company will gradually reduce its holdings of cross-shareholdings to the minimum necessary. It will continue to hold shares whose holding purpose is appropriate and whose benefits and risks are commensurate with the cost of capital, while selling shares whose holding purpose is inappropriate or whose benefits and risks are not commensurate with the cost of capital after determining the details of the sale method.」
The Company disclosed for the first time a clear policy of gradually reducing cross-shareholdings and having the Board of Directors verify annually whether their benefits and risks are commensurate with the cost of capital. It also disclosed the sale of 3 unlisted issues and 24 listed issues.