Policy of Reviewing the Rationale for Strategic Shareholdings Annually
First written in FY2020. 2 of 5 entries say "Restated". Latest entry: FY2026.
- FY2026AdvancedAnnual report
「(Holdings with a decrease in the number of shares during the fiscal year) Shares other than unlisted shares 2 1,049」
Following its review of cross-shareholdings, the Company sold 2 listed holdings, for total proceeds of ¥1,049 million. - FY2023AdvancedAnnual report
「Holdings with a decrease in the number of shares during the fiscal year: shares other than unlisted shares 4 735」
Following its review of the rationale for cross-shareholdings, the Company sold 4 listed holdings, for total proceeds of ¥735 million. The disclosure states that the annual Board of Directors review policy led to actual selling activity. - FY2022RestatedAnnual report
「The Board of Directors reviews and verifies the rationale for each holding annually by qualitatively assessing the appropriateness of the purpose of the holding and quantitatively assessing whether the benefits and risks of holding the shares are commensurate with the Company's cost of capital. For shares judged to have little rationale for continued ownership, the Company considers selling them as appropriate, taking into account factors such as share-price trends.」
The policy of annually verifying the rationale for cross-shareholdings from the perspectives of benefits, risks and cost of capital remains in place. - FY2021RestatedAnnual report
「The Board of Directors reviews and verifies the rationale for each holding annually by qualitatively assessing the appropriateness of the purpose of the holding and quantitatively assessing whether the benefits and risks of holding the shares are commensurate with the Company's cost of capital.」
The policy of annually verifying the rationale for cross-shareholdings from the perspectives of benefits, risks and cost of capital remains in place. - FY2020First statedAnnual report
「The Board of Directors reviews and verifies the rationale for each holding annually by qualitatively assessing the appropriateness of the purpose of the holding and quantitatively assessing whether the benefits and risks of holding the shares are commensurate with the Company's cost of capital. For shares judged to have little rationale for continued ownership, the Company considers selling them as appropriate, taking into account factors such as share-price trends.」
The Company has, for the first time, specifically stated a policy under which the Board of Directors annually verifies the purpose of cross-shareholdings, their benefits and risks, and their suitability relative to the cost of capital, and considers selling holdings with little rationale.