Reviewing the Rationale for Strategic Shareholdings in Light of the Cost of Capital
First written in FY2019. 2 of 4 entries say "Advanced", first in FY2023. Latest entry: FY2026.
- FY2026Fewer Holdings Subject to Review and DisposalsAnnual report
「At the board meeting held in May 2026, 3 issues were subject to review based on the end of March 2026, and following the review, we decided to continue holding them.」
We continued the annual review in light of the cost of capital, and the number of issues subject to review decreased from 5 in the previous fiscal year to 3. We also disclosed the sale of 2 specified investment shares. - FY2024AdvancedAnnual report
「At the board meeting held in May 2024, 5 issues were subject to review based on the end of March 2024, and following the review, we decided to continue holding them.」
We conduct an annual review of the rationale for cross-shareholdings in light of the cost of capital, and the number of issues subject to review increased from 4 to 5. - FY2023AdvancedAnnual report
「The reviews are conducted each year at the board meeting held in May using the above method. At the board meeting held in May 2023, 4 issues were subject to review based on the end of March 2023, and following the review, we decided to continue holding them.」
We conduct an annual review of each holding to determine whether it generates returns and dividends exceeding the cost of capital, and in May 2023 decided to continue holding 4 issues. - FY2019First statedAnnual report
「For each individual issue, our board of directors and other bodies review the rationale for holding the shares from the perspectives of their contribution to the business and investment returns in light of the cost of capital.」
We newly stated a policy of reviewing the rationale for each cross-held shareholding at the board of directors and other meetings by comparing its contribution to the business and investment returns with the cost of capital.