Decisions on Continued Ownership of Strategic Shareholdings and the Exercise of Voting Rights
First written in FY2017. 1 of 6 entries say "Advanced", first in FY2018. Latest entry: FY2025.
- FY2025Update on cross-shareholdingsAnnual report
「For each individual issue, the Company uses the maintenance and development of stable and sound business relationships and the possibility of future transactions and business alliances in new businesses as criteria for holding shares. In addition to these policies, it reviews the rationality of its holdings based on whether they contribute to improving the medium- to long-term corporate value of both the Group and the investee companies.」
The Company continued its policy of reviewing the rationality of its cross-shareholdings based on business relationships and the possibility of future alliances, holding 4 unlisted issues and 1 listed issue. - FY2024Update on cross-shareholdingsAnnual report
「For each individual issue, the Company uses the maintenance and development of stable and sound business relationships and the possibility of future transactions and business alliances in new businesses as criteria for holding shares. In addition to these policies, it reviews the rationality of its holdings based on whether they contribute to improving the medium- to long-term corporate value of both the Group and the investee companies.」
The Company held 5 unlisted issues and 1 listed issue as cross-shareholdings, sold 3 unlisted issues, and acquired 1 issue to expand its business areas and strengthen relationships. - FY2023Update to the status of cross-shareholdings and the review processAnnual report
「At present, there are no shares for which the Company recognizes no rational basis for continued ownership. However, if changes in the business environment surrounding the Group or investee companies cause the Company to determine that shares no longer serve those purposes and lack a rational basis for continued ownership, it will consider reducing the holdings after a detailed review by the Board of Directors.」
The Company continued to describe its review policy for cross-shareholdings, under which it holds 7 unlisted issues and 1 listed issue and will conduct a detailed Board of Directors review and reduce holdings where no rational basis exists. - FY2019Update to the status of cross-shareholdings and the review processAnnual report
「For each individual issue, the Company uses the maintenance and development of stable and sound business relationships and the possibility of future transactions and business alliances in new businesses as criteria for holding shares. In addition to these policies, it reviews the rationality of its holdings based on whether they contribute to improving the medium- to long-term corporate value of both the Group and the investee companies.」
The Company updated its review process based on the purpose of holding shares and their contribution to medium- to long-term corporate value, and stated that it would consider reducing holdings where no rational basis is recognized. - FY2018AdvancedAnnual report
「When exercising voting rights attached to cross-shareholdings, the Company checks whether the proposals under consideration could impair shareholder value. It also considers the circumstances of the investee company and, where necessary, confirms the purpose of the proposal with the investee before deciding whether to vote for or against it.」
In addition to decisions on continuing to hold cross-shareholdings, the Company disclosed specific criteria for exercising voting rights, including the matters to be checked and inquiries to investee companies. - FY2017First statedAnnual report
「The Company holds cross-shareholdings after considering the maintenance and development of sound business relationships and the possibility of future transactions and business alliances in new businesses. The Board of Directors reviews the purpose of holding such shares, returns such as dividends, and the risk of share-price fluctuations arising from business performance. If it determines that there is no rational basis for continuing to hold them, the Company will seek to reduce its holdings.」
The Company described for the first time the purpose of holding cross-shareholdings, the Board of Directors' review process, and its policy of reducing holdings where no rational basis exists.