Reviewing the Rationale for Cross-Shareholdings and Reducing Holdings
First written in FY2020. 4 of 9 entries say "Advanced", first in FY2021. Latest entry: 2026-08-06.
- 2026-08-06RestatedManagement Planning
「Although the market value of cross-shareholdings is in a period of substantial increase, making reductions difficult in the short term, we will continue to reduce cross-shareholdings systematically with the period of the next medium-term management plan also in view, bringing their carrying value to 10% or less of consolidated net assets.」
The policy of reducing cross-shareholdings and the target of bringing their carrying value to 10% or less of consolidated net assets were reconfirmed. - FY2026Ratio increased despite continued reduction due to higher market valueAnnual report
「Based on this policy, we sold part of 1 holding in fiscal 2025. Although the substantial rise in the market value of cross-shareholdings makes reductions difficult in the short term, we will continue promoting the reduction of cross-shareholdings with the next medium-term management plan period also in view, reducing their book value as a percentage of consolidated net assets to 10% or less.」
Although part of 1 holding was sold in fiscal 2025, the ratio of cross-shareholdings to consolidated net assets rose to 17.3% due to higher share prices. The policy of reducing the ratio to 10% or less remains in place. - FY2024-Q2AdvancedAnnual report
「Net income attributable to owners of the parent was also substantially above the initial forecast of ¥1.2 billion, although it was below the year-earlier result, due to the recognition of gains on the sale of investment securities associated with the reduction of cross-shareholdings. It was ¥1,776 million, down 7.1% year on year.」
Gains on the sale of investment securities associated with the reduction of cross-shareholdings were recognized, and the implementation of the reduction policy was reflected in profit. - FY2023RaisedAnnual report
「We will continue reducing cross-shareholdings and, as early as possible during the period of the 2022–2026 Medium-Term Management Plan, reduce the ratio of the book value of cross-shareholdings to net assets to 10% or less.」
For cross-shareholdings, a deadline and numerical target were newly presented to reduce the book value ratio to net assets to 10% or less as early as possible during the period of the 2022–2026 Medium-Term Management Plan. In fiscal 2022, shares in 1 company were sold. - FY2021AdvancedAnnual report
「Issues for which the number of shares decreased during the fiscal year Shares other than unlisted shares 2 143,172」
The annual review of cross-shareholdings continued, and holdings were reduced during the fiscal year through the sale of shares in 2 listed companies. - FY2020First statedAnnual report
「Each year, the Company examines its holdings of shares from multiple perspectives, including the performance, share price, dividend and growth prospects of each investee, and the Board of Directors deliberates and approves the results. As a result, the Company reduces holdings of shares that it determines have insufficient strategic significance or do not generate returns commensurate with the cost of capital, following dialogue with the investee companies and other measures.」
For cross-shareholdings, a policy of conducting a multifaceted annual review and Board deliberation, and reducing holdings based on their strategic significance and the cost of capital, was disclosed for the first time as an independent topic.