Limiting Strategic Shareholdings and Reviewing the Rationale for Maintaining Them
First written in FY2019. 8 of 10 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Because TAIHEIYO CEMENT CORPORATION, the parent company of Pacific Systems Co., Ltd., announced that it would conduct a tender offer to make Pacific Systems Co., Ltd. a wholly owned subsidiary, the Company resolved to participate in the tender offer in accordance with its policy and sold all shares held during the fiscal year.」
Under the policy for verifying the rationale for cross-held shares, all 30,000 shares of パシフィックシステム were sold, and proceeds of ¥205.5 million were recorded. No shares were acquired during the fiscal year. - FY2026-H1AdvancedAnnual report
「On the earnings front, operating income was ¥1,308 million, up 123.5% year on year, and ordinary income was ¥1,348 million, up 116.4%, due mainly to higher net sales and improved productivity and profit margins. In addition, interim net income attributable to owners of the parent was ¥1,002 million, up 145.3% year on year, due mainly to the recognition of gains on sales of investment securities in connection with the tender offer for cross-shareholdings.」
The Company recognized a ¥156.267 million gain on sales of investment securities in connection with participation in a tender offer for cross-shareholdings and sold those cross-shareholdings. - FY2025AdvancedAnnual report
「Unlisted shares 1 55,000 To strengthen ties with Fuji Warehouse Transportation Co., Ltd., a customer for contract development and system equipment sales.」
While continuing its policy of verifying the rationale for cross-shareholdings, the Company acquired 1 unlisted shareholding at an acquisition cost of ¥55 million to strengthen its relationship with Fuji Warehouse Transportation Co., Ltd. - FY2024AdvancedAnnual report
「Following the review, the Company will, as necessary, take steps to sell shares determined to lack a rational basis for continued ownership.」
The Company continued to verify the rationale for cross-shareholdings and sold 2 listed shareholdings during the fiscal year. The disclosure states that it sold 89,200 shares of INTAGE HOLDINGS Inc. and 400 shares of Dai-ichi Life Holdings, Inc. - FY2022AdvancedAnnual report
「Issues whose number of shares increased during the fiscal year Unlisted shares 1 12,000 Resona Bank participated in the capital of a new company established to provide one-stop support in response to the DX needs of mid-sized and small businesses, expressing its agreement with the purpose of the company.」
While continuing to verify the rationale for cross-shareholdings, the Company acquired 1 unlisted shareholding through a capital investment in a new DX support company established by Resona Bank. It also sold 1 unlisted shareholding and 1 listed shareholding. - FY2021RestatedAnnual report
「With respect to the rationale for cross-shareholdings, the Company annually conducts a detailed review and verification of each listed cross-shareholding, including the appropriateness of its purpose and whether the benefits and risks that may arise from strengthening business relationships are commensurate with the cost of capital. The Management Meeting and the Board of Directors receive reports on the results and verify whether continued holdings are appropriate.」
The disclosure repeats the policy of limiting cross-shareholdings and annually verifying whether their benefits and risks are commensurate with the cost of capital. It does not describe any new sales during the fiscal year. - FY2020AdvancedAnnual report
「The Company held shares in Rhythm Co., Ltd. to collect information on the needs of customers to which it provided information processing services and to strengthen ties in order to increase order opportunities based on those needs. However, from the perspective of reviewing cross-shareholdings, it sold all shares held during the fiscal year.」
As a result of verifying the rationale for cross-shareholdings, the disclosure describes the specific sale of all shares held in Rhythm Co., Ltd. - FY2019First statedAnnual report
「The Company has established corporate governance guidelines stipulating, in principle, that it will not make equity investments from the perspective of investment safety, and has clearly stated its policy of holding cross-shareholdings only when truly unavoidable, such as to enhance corporate value over the medium to long term.」
The Company does not hold shares for pure investment purposes and has, for the first time, clearly stated its policy of annually reviewing the purpose of holding cross-shareholdings, their benefits and risks, and the cost of capital, among other matters.