Strategic Shareholdings to Strengthen Business Relationships
First written in FY2016. 3 of 10 entries say "Advanced", first in FY2020. Latest entry: FY2026.
The whole theme swung hardest in 2019: 17 of 136 companies on the "Worse" side.
2 other companies' latest entry also says "Achieved".
- FY2026AchievedAnnual report
「Regarding the specific review of the benefits and risks of cross-shareholdings in relation to the cost of capital, we tendered all of our common shares in Toyota Industries Corporation in the tender offer last fiscal year, and the tender offer was completed in March 2026. As a result, the initial target of reducing cross-shareholdings by 50% by the end of fiscal 2027, based on their market value at the end of fiscal 2023, was achieved ahead of schedule, with an 81% reduction as of the end of the previous fiscal year.」
The target of reducing cross-shareholdings by 50% or more by the end of fiscal 2027 was achieved ahead of schedule, with an 81% reduction as of the end of the previous fiscal year, mainly through the full sale of the Toyota Industries Corporation shares. - FY2025RaisedAnnual report
「We disclosed a target of reducing our cross-shareholdings by 50% or more by the end of fiscal 2027 (31 March 2028), based on their market value at the end of fiscal 2023 (31 March 2024).」
The existing policy of reducing cross-shareholdings was made more specific through a quantified, time-bound target of reducing them by 50% or more by the end of fiscal 2027, based on their market value at the end of fiscal 2023. During the fiscal year, all shares in 6 issues were sold and part of the shares in 2 issues was sold. - FY2023AdvancedAnnual report
「Our basic policy for investments other than those held for pure investment purposes is to take a medium- to long-term perspective aimed at enhancing corporate value, review the need to hold each issue based on its strategic importance and the need to strengthen relationships with business partners, and reduce cross-shareholdings by selling holdings as appropriate when they are deemed unnecessary.」
The policy of reviewing the benefits and risks of cross-shareholdings and their profitability in light of the cost of capital at annual Board of Directors meetings continued. During the fiscal year, 1 issue was sold. - FY2021AdvancedAnnual report
「The number of shares held in DENSO CORPORATION increased through additional purchases to promote joint development and maintain and strengthen the business relationship.」
Among the cross-shareholdings, the holding of DENSO CORPORATION shares increased through additional purchases from 590,000 shares to 2,209,000 shares. The stated purposes of the holding are to maintain and strengthen the business relationship and promote joint development. - FY2020AdvancedAnnual report
「Our basic policy for investments other than those held for pure investment purposes is to take a medium- to long-term perspective aimed at enhancing corporate value, comprehensively assess holdings based on their strategic importance and the need to strengthen relationships with business partners, and reduce cross-shareholdings by selling holdings as appropriate when they are deemed unnecessary. In addition, once a year, the Board of Directors reviews the policy for holding listed shares by receiving a report on the holdings, their purpose and profitability in light of the cost of capital and other factors.」
The policy of reducing cross-shareholdings and conducting annual reviews by the Board of Directors continued. During the fiscal year, 2 listed issues were sold. - FY2019ReframedAnnual report
「Our basic policy for investments other than those held for pure investment purposes is to take a medium- to long-term perspective aimed at enhancing corporate value, comprehensively assess holdings based on their strategic importance and the need to strengthen relationships with business partners, and reduce cross-shareholdings by selling holdings as appropriate when their significance is deemed to have diminished.」
In addition to the existing policy of holding shares to build and maintain business relationships, the company has added the reduction of cross-shareholdings through the sale of holdings whose significance has diminished, together with annual reviews by the Board of Directors taking into account the cost of capital and other factors. - FY2017RestatedAnnual report
「Our group holds shares as cross-shareholdings, primarily to build and maintain relationships with banks and business partners.」
The policy of holding cross-shareholdings to strengthen business relationships was maintained. At the end of the fiscal year, the holdings totaled 53 issues and ¥4,146.4 million. - FY2016First statedAnnual report
「Our group holds shares as cross-shareholdings, primarily to build and maintain relationships with banks and business partners.」
At the end of the fiscal year, cross-shareholdings other than those held for pure investment purposes totaled 53 issues, with a balance sheet carrying amount of ¥3,656.2 million.