Review of the Rationale for Strategically Held Shares and Their Disposal or Reduction
First written in FY2019. 3 of 5 entries say "Restated". Latest entry: FY2026.
- FY2026The method for reviewing the rationality of cross-shareholdings was specified in greater detailAnnual report
「When verifying economic rationality, the Company considers annual transaction volume with the relevant business partner, annual dividends received, profitability based on the cost of capital, and the results of comparing the carrying value and market value of the shares. After deliberation by the Board of Directors, it decides which holdings to sell.」
In addition to its policy of reviewing cross-shareholdings annually, the Company specified annual transaction volume, dividends received, profitability based on the cost of capital, and comparisons of carrying value and market value as verification items. - FY2024RestatedAnnual report
「For shares already held as cross-shareholdings, the Company evaluates whether they meet the above criteria based on settlement information and other data for the most recent fiscal year. Under its basic policy of promptly disposing of or reducing holdings deemed not to meet the criteria, the Company reviews its holdings annually at meetings of the Board of Directors.」
The Company reaffirms its policy of verifying the rationality of cross-shareholdings and disposing of or reducing holdings that do not meet the criteria, with an annual review by the Board of Directors. No holdings changed in share count during the fiscal year. - FY2022RestatedAnnual report
「For shares already held as cross-shareholdings, the Company evaluates whether they meet the above criteria based on settlement information and other data for the most recent fiscal year. Under its basic policy of promptly disposing of or reducing holdings deemed not to meet the criteria, the Company reviews its holdings annually at meetings of the Board of Directors.」
The Company reiterates its policy of verifying the rationality of cross-shareholdings and disposing of or reducing holdings that do not meet the criteria, with an annual review by the Board of Directors. - FY2021RestatedAnnual report
「When newly acquiring cross-shareholdings, the Company comprehensively evaluates business strategy, business relationships and economic rationality, and acquires the shares as a general policy only after verifying from a medium- to long-term perspective whether they will contribute to enhancing corporate value through sales policies, raw material procurement and use of its network. For shares already held as cross-shareholdings, the Company also evaluates whether they meet the above criteria based on settlement information and other data for the most recent fiscal year. Under its basic policy of promptly disposing of or reducing holdings deemed not to meet the criteria, the Company reviews its holdings annually at meetings of the Board of Directors.」
The Company reiterates its policy of verifying the business strategy, business relationships and economic rationality of cross-shareholdings and reviewing them annually at Board of Directors meetings. During the fiscal year, it held 2 unlisted issues and 5 listed issues. - FY2019First statedAnnual report
「When newly acquiring cross-shareholdings, the Company comprehensively evaluates business strategy, business relationships and economic rationality, and acquires the shares as a general policy only after verifying from a medium- to long-term perspective whether they will contribute to enhancing corporate value. For shares already held as cross-shareholdings, the Company also evaluates whether they meet the above criteria based on settlement information and other data for the most recent fiscal year. Under its basic policy of promptly disposing of or reducing holdings deemed not to meet the criteria, the Company reviews its holdings annually at meetings of the Board of Directors.」
The Company states that it verifies the business strategy, business relationships and economic rationality of cross-shareholdings, and disposes of or reduces holdings that do not meet the criteria, with an annual review by the Board of Directors. It also states that it sold all shares of Mizuho Financial Group during the fiscal year.