Review of the Rationale for Strategic Shareholdings and Their Reduction
First written in FY2019. 4 of 5 entries say "Advanced", first in FY2020. Latest entry: FY2024.
106 other companies' latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year" "Shares other than unlisted shares: 1 issue, ¥105 million」
Following a review by the Board of Directors of whether the holdings remained appropriate, all shares in 1 listed company were sold. - FY2023AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year" "Shares other than unlisted shares: 3 issues, ¥688 million」
For cross-shareholdings, shares in 3 listed issues were sold following a review by the Board of Directors of the appropriateness of retaining the holdings. - FY2022AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year" "Shares other than unlisted shares: 1 issue, ¥202 million」
For cross-shareholdings, shares in 1 listed issue were sold following a review by the Board of Directors. - FY2020AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year" "Shares other than unlisted shares: 3 issues" "Following a review by the Board of Directors of the appropriateness of the holdings, all shares were sold.」
For cross-shareholdings, all shares in 3 listed issues were sold following a review by the Board of Directors. - FY2019First statedAnnual report
「We have established and appropriately implemented the following policy and voting guidelines concerning cross-shareholdings in listed companies. ・We will hold shares as cross-shareholdings only when we determine that doing so will contribute to sustainable profit growth and enhancement of corporate value over the medium to long term. ・For each individual issue, we will scrutinize whether the purpose of holding it is appropriate and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and the Board of Directors will review the appropriateness of each holding annually. ・If the review finds that a shareholding has no recognized significance, we will sell it appropriately as necessary.」
For cross-shareholdings, the company has, for the first time, stated a separate policy covering annual Board of Directors reviews, including comparison with the cost of capital, and the sale of holdings whose significance is not recognized. In fiscal 2019, it sold 10 listed shareholdings.