Verification of the rationale for holding strategic shareholdings and timely reduction
First written in FY2019. 5 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 8 August 2025, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, it decided to sell 1 holding. The Company currently holds 27 holdings.」
Continued verifying the rationale for strategic shareholdings, sold 1 holding and reduced the number of holdings from 28 to 27. - FY2025RestatedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 11 October 2024, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, the Company decided to continue holding all shares.」
Although the Company verified the rationale for strategic shareholdings, it continued to hold all shares in the fiscal year ended March 2025. - FY2024AdvancedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at meetings held on 14 July 2023 and 15 October 2023, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, it decided to sell 1 holding. The Company currently holds 28 holdings.」
Continued verifying the rationale for strategic shareholdings, sold 1 holding and reduced the number of holdings from 29 to 28. - FY2023RestatedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 15 September 2022, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, the Company decided to continue holding all shares.」
As a result of verifying the rationale for strategic shareholdings, the Company did not sell any holdings during the fiscal year and continued to hold all shares. - FY2022AdvancedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 15 November 2021, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, it decided to sell 7 holdings. The Company currently holds 29 holdings.」
Continued verifying the rationale for strategic shareholdings, sold 7 holdings and reduced the number of holdings from 36 to 29. - FY2021AdvancedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 15 September 2020, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, it decided to sell 2 holdings. The Company currently holds 36 holdings.」
Continued verifying the rationale for strategic shareholdings, sold 2 holdings and reduced the number of holdings from 38 to 36. - FY2020AdvancedAnnual report
「Based on the above policy and verification methods, the Board of Directors, at its meeting held on 30 October 2019, reviewed the appropriateness of holding each individual shareholding as of the end of March of that year, taking into account the views of the general managers of the headquarters responsible for the business partners whose shares were held. As a result, it decided to sell 6 holdings. The Company currently holds 38 holdings.」
Verified the rationale for strategic shareholdings, decided to sell 6 holdings and reduced the number of holdings to 38. - FY2019First statedAnnual report
「The Company holds shares only to the extent that they contribute to its business principles, management philosophy and management guidelines. It will timely reduce holdings through sales or other disposals where the purpose of holding them is no longer appropriate, where they no longer generate returns commensurate with the cost of capital, or where the holdings otherwise cease to be rational.」
The Company holds only shares not held for pure investment purposes and, each fiscal year, verifies the rationale for each holding from qualitative and quantitative perspectives. It has presented, for the first time as a separate topic, its policy of reducing holdings that lack a rational basis.