Policy of generally not holding strategic shareholdings
First written in FY2023. 2 of 3 entries say "Advanced", first in FY2024. Latest entry: FY2025.
The whole theme swung hardest in 2023: 3 of 9 companies on the "Worse" side.
4 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「Direct Marketing MiX Inc. 668,200 shares To seek opportunities to gather information and explore the possibility of a future business alliance」
The company stated that it had acquired 668,200 shares of Direct Marketing MiX Inc. as an exception to its policy of generally not holding policy shares, citing the possibility of a future business alliance. It stated that the rationale for the holding would be reviewed in light of the cost of capital and other factors. - FY2024AdvancedAnnual report
「Even after acquiring such shares, the Board of Directors will review them annually, according to their importance, to determine whether the purpose of holding them remains appropriate and whether the benefits and risks associated with the holdings are commensurate with the cost of capital. The policy is to sell them as appropriate when necessary.」
In addition to the policy of generally not holding policy shares, specific procedures were set out for annual reviews after acquisition and sales when necessary. - FY2023First statedAnnual report
「As a general rule, we do not hold policy shares, such as cross-shareholdings. However, when we determine that holding shares in a particular company could contribute to enhancing our business value, we may strategically hold those shares after the Board of Directors discusses whether the benefits are commensurate with the cost of capital and other considerations.」
The policy of generally not holding policy shares, together with the exception of verifying at the Board of Directors whether such holdings contribute to business value and are commensurate with the cost of capital, was described for the first time.