Reviewing the Rationale for Cross-Shareholdings and Reducing Them
First written in FY2019. 7 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Shares other than unlisted shares 8 3,337」
Based on the assessment of the rationale for strategic shareholdings, we sold 8 holdings other than unlisted shares during the fiscal year and continued to reduce our holdings. - FY2025AdvancedAnnual report
「In addition, for shares determined during the review process to no longer have a rationale for continued ownership, we conduct a detailed assessment of whether the benefits and risks associated with holding those shares are commensurate with the cost of shareholders' equity, among other factors, and designate them for reduction.」
We continued to assess the rationale for strategic shareholdings and reduce them, selling 3 holdings other than unlisted shares during the fiscal year. - FY2024AdvancedAnnual report
「Shares judged during the review process to have lost the significance of continued ownership are designated for reduction, after which the Company examines in detail whether the benefits and risks associated with holding them are commensurate with the cost of shareholders' equity and determines whether continued ownership is appropriate.」
The Company continued its procedure for verifying the rationale for and reducing cross-shareholdings, selling 22 issues other than unlisted shares during the fiscal year under review. - FY2023AdvancedAnnual report
「For all cross-shareholdings, the Company verifies the benefits of holding them, including their medium- to long-term economic rationale and their contribution to maintaining and strengthening overall relationships with business partners, and reports the results to the Board of Directors. Shares judged during the review process to have lost the significance of continued ownership are designated for reduction, after which the Company examines in detail whether the benefits and risks associated with holding them are commensurate with the cost of shareholders' equity and determines whether continued ownership is appropriate.」
In addition to verifying the rationale for every cross-shareholding and reporting to the Board of Directors, the Company clarified the procedure for designating issues that have lost their significance for reduction. During the fiscal year under review, it sold 2 issues. - FY2020AdvancedAnnual report
「Issues whose number of shares decreased during the fiscal year under review: shares other than unlisted shares 5 417」
As a result of its review of the rationale for cross-shareholdings, the Company sold 5 issues and specifically reduced its holdings. - FY2019First statedAnnual report
「The Company may acquire and hold shares of business partners and others when it determines that doing so will contribute to its sustainable growth and the enhancement of corporate value over the medium to long term, from the perspective of establishing and strengthening stable, long-term business relationships with business partners. For all cross-shareholdings, it verifies the benefits of holding them, including their medium- to long-term economic rationale and their contribution to maintaining and strengthening overall relationships with business partners, and reports the results to the Board of Directors.」
The Company recorded for the first time its policy of holding cross-shareholdings based on their contribution to business relationships and corporate value enhancement, and verifying the economic rationale and benefits of holding every issue at the Board of Directors. Shares that have lost their significance are designated for reduction.