Annual Review of the Rationale for Holding Cross-Shareholdings
First written in FY2019. 7 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「We review the purpose of holding each cross-held equity investment every fiscal year. As a result of the review conducted at the Board of Directors meeting on 29 May 2026, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
At the Board of Directors meeting on 29 May 2026, the company reviewed the purpose of each holding. It also sold all shares of 松屋フーズ, 大戸屋 and 吉野家. - FY2025AdvancedAnnual report
「We review the purpose of holding each cross-held equity investment every fiscal year. As a result of the review conducted at the Board of Directors meeting on 30 May 2025, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
At the Board of Directors meeting on 30 May 2025, the company reviewed the purpose of each holding and confirmed that the current holdings are consistent with its ownership policy. - FY2024AdvancedAnnual report
「We review the purpose of holding each cross-held equity investment every fiscal year. As a result of the review conducted at the Board of Directors meeting on 30 May 2024, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
At the Board of Directors meeting on 30 May 2024, the company again reviewed the purpose of each holding and confirmed that the current holdings are consistent with its policy. - FY2023AdvancedAnnual report
「We review the purpose of holding each cross-held equity investment every fiscal year. As a result of the review conducted at the Board of Directors meeting on 30 May 2023, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
At the Board of Directors meeting on 30 May 2023, the company reviewed the purpose of each holding and confirmed that the current holdings are consistent with its policy. - FY2022AdvancedAnnual report
「The company has no intention of securing stable shareholders.」
Regarding cross-held equity investments, the company conducted an individual review at the Board of Directors meeting on 30 May 2022 and confirmed that the current holdings are consistent with its ownership policy. It continues to maintain a policy of generally treating holdings for which no rationale is identified as candidates for sale. - FY2021AdvancedAnnual report
「We review the purpose of holding each cross-held equity investment every fiscal year. As a result of the review conducted at the Board of Directors meeting on 28 May 2021, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
At the Board of Directors meeting on 28 May 2021, the company reviewed each cross-held equity investment and confirmed that the current holdings are consistent with its ownership policy. - FY2020AdvancedAnnual report
「As a result of the review conducted at the Board of Directors meeting on 29 May 2020, we confirmed that all currently held cross-held equity investments are held for purposes consistent with our ownership policy.」
Regarding cross-held equity investments, the Board of Directors reviewed the rationale for each holding and confirmed that the current holdings are consistent with the policy. - FY2019First statedAnnual report
「At each annual Board of Directors meeting, we will examine each individual cross-held equity investment to determine, based on the benefits to the business arising from transactions with the investee, the market value of the shares, dividend income and other aspects of economic rationality, whether continued ownership contributes to enhancing corporate value. Investments for which the rationale for continued ownership is not confirmed will be reduced at an appropriate time.」
The company states for the first time that the Board of Directors will review the rationale for each cross-held equity investment annually and reduce holdings where no rationale is identified.