Assessing the rationale for strategically held shares
First written in FY2019. 4 of 6 entries say "Restated". Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Issues for which the number of shares decreased during the fiscal year: shares other than unlisted shares 1 117」
The company sold 1 listed shareholding and conducted a review of the rationale for its cross-shareholdings. - FY2024RestatedAnnual report
「With respect to the method of examining the rationale for holdings, all shares are individually and specifically scrutinised to determine whether the purpose of holding them, including maintaining and strengthening business relationships, alliances and personnel exchanges, is appropriate and whether the associated returns and risks are commensurate with the cost of capital, and the Board of Directors conducts the review (Board of Directors meeting held on 27 June 2024).」
The company continues its policy of having the Board of Directors verify the purpose of holdings and their appropriateness in terms of returns, risks and cost of capital for cross-shareholdings. - FY2023RestatedAnnual report
「With respect to the method of examining the rationale for holdings, all shares are individually and specifically scrutinised to determine whether the purpose of holding them, including maintaining and strengthening business relationships, alliances and personnel exchanges, is appropriate and whether the associated returns and risks are commensurate with the cost of capital, and the Board of Directors conducts the review (Board of Directors meeting held on 29 June 2023).」
The company is reaffirming its policy of having the Board of Directors verify the purpose of holdings and their appropriateness in terms of returns, risks and cost of capital for cross-shareholdings. - FY2021RestatedAnnual report
「With respect to the method of examining the rationale for holdings, all shares are individually and specifically scrutinised to determine whether the purpose of holding them, including maintaining and strengthening business relationships, alliances and personnel exchanges, is appropriate and whether the associated returns and risks are commensurate with the cost of capital, and the Board of Directors conducts the review (Board of Directors meeting held on 29 June 2021).」
The company is reaffirming its policy of having the Board of Directors verify the purpose of holdings and their appropriateness in terms of returns, risks and cost of capital for cross-shareholdings. - FY2020RestatedAnnual report
「With respect to the method of examining the rationale for holdings, all shares are individually and specifically scrutinised to determine whether the purpose of holding them, including maintaining and strengthening business relationships, alliances and personnel exchanges, is appropriate and whether the associated returns and risks are commensurate with the cost of capital, and the Board of Directors conducts the review (Board of Directors meetings held on 8 November 2019 and 26 June 2020).」
The company is reaffirming its policy of having the Board of Directors verify the purpose of holdings and their appropriateness in terms of returns, risks and cost of capital for cross-shareholdings. - FY2019First statedAnnual report
「Every year, the Board of Directors comprehensively considers the holding policy, returns and risks, and cost of capital, among other factors, to confirm the rationale for continuing to hold the shares.」
For shares held as cross-shareholdings based on the need to maintain business alliances and transactions, the Board of Directors annually examines the rationale for continued ownership using returns, risks and cost of capital, among other factors.