Reviewing and Reducing Cross-Shareholdings Based on Business Relationships and Cost of Capital
First written in FY2019. 5 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Stocks whose number of shares increased during the fiscal year: unlisted stocks: —; stocks other than unlisted stocks: 1, 3,604. Stocks whose number of shares decreased during the fiscal year: unlisted stocks: 1, 1,211.」
The company acquired 1 listed stock for ¥3.604 million and sold 1 unlisted stock in its cross-shareholdings. It also continued its policy of annually assessing the economic rationale and purpose of the holdings. - FY2025AdvancedAnnual report
「Stocks whose number of shares increased during the fiscal year: unlisted stocks: —; stocks other than unlisted stocks: 1, 3,599. Stocks whose number of shares decreased during the fiscal year: unlisted stocks: 1, 3,633; stocks other than unlisted stocks: 2, 22,142.」
The company continued its annual assessment of the rationale for holding cross-shareholdings, acquiring 1 listed stock for ¥3.599 million and selling 1 unlisted stock and 2 listed stocks. - FY2024AdvancedAnnual report
「Holdings whose number of shares increased during the fiscal year Unlisted shares － Other than unlisted shares 1 3,598 Holdings whose number of shares decreased during the fiscal year Unlisted shares 1 1,211」
The company continued its annual assessment of the rationale for holding cross-shareholdings, acquiring 1 listed stock for ¥3.598 million and selling 1 unlisted stock for ¥1.211 million. - FY2023AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Unlisted shares 1 400,800」
The Company continued its annual review of the rationale for cross-shareholdings and sold 1 unlisted shareholding for ¥400.800 million during the fiscal year. - FY2021AdvancedAnnual report
「The Board of Directors reviewed the appropriateness of each individual listed shareholding held for purposes other than pure investment, focusing on whether the purpose of the holding was appropriate and whether the transaction value and profitability with, and risks associated with, the investee company were commensurate with the cost of capital. As a result, all holdings were deemed appropriate.」
The Company conducted its annual review of cross-shareholdings and sold all shares in 2 financial institutions during the fiscal year. - FY2019First statedAnnual report
「In addition to returns such as dividends, the Company holds the minimum necessary amount of shares to maintain and strengthen business relationships from a medium- to long-term perspective and thereby enhance corporate value. Once a year, the Board of Directors verifies the appropriateness of each holding based on the appropriateness of its purpose, risks, and comparison of the cost of capital with the dividend yield, among other factors. If the holding is not considered reasonable or necessary, it will be reduced through sales or other means.」
The Company has stated for the first time as a separate topic its policy of limiting cross-shareholdings to the minimum necessary, reviewing them once a year based on their purpose, risks, and comparison with the cost of capital, and reducing them if they are not reasonable.