Verification of the Rationale for Strategic Shareholdings and Reduction of Holdings Without Rationale
First written in FY2019. 3 of 5 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「At Board of Directors meetings, the Company regularly determines the appropriateness of its holdings based on business benefits arising from the status of transactions with the investee, the market price of the shares, dividend income and other aspects of economic rationale. Shares determined to lack sufficient justification are sold in a timely and appropriate manner.」
The Company continues its policy of having the Board of Directors regularly review the rationale for cross-shareholdings and selling shares that lack sufficient justification. - FY2024AdvancedAnnual report
「The Company resolved to tender all shares of JSR株式会社 that it held in the tender offer, and the tender offer was completed on 17 April 2024.」
The Company states that it tendered all shares of JSR株式会社 held as cross-shareholdings and completed the sale. This is a specific example of reducing holdings based on a review of their rationale. - FY2022RestatedAnnual report
「At Board of Directors meetings, the Company regularly determines the appropriateness of its holdings based on business benefits arising from the status of transactions with the investee, the market value of the shares, dividend income and other aspects of economic rationale.」
The Company continues its policy of having the Board of Directors regularly review the rationale for cross-shareholdings and selling holdings that lack sufficient justification. - FY2020RestatedAnnual report
「At Board of Directors meetings, the Company regularly determines the appropriateness of its holdings based on business benefits arising from the status of transactions with the investee, the market value of the shares, dividend income and other aspects of economic rationale.」
The Company continues its policy of having the Board of Directors regularly assess the rationale for cross-shareholdings and selling holdings whose appropriateness is not recognized. - FY2019First statedAnnual report
「At Board of Directors meetings, the Company verifies whether continuing to hold each shareholding will contribute to enhancing corporate value, based on business benefits arising from the status of transactions with the investee, the market value of the shares, dividend income and other aspects of economic rationale. Holdings determined to lack a valid rationale are reduced at an appropriate time.」
The Company is stating for the first time its policy of having the Board of Directors review the economic rationale and other factors behind cross-shareholdings and reducing holdings where no valid rationale exists.