Strategic shareholdings held to maintain and strengthen business relationships
First written in FY2017. 9 of 11 entries say "Softened", first in FY2019. Latest entry: FY2026.
Shin-Etsu Chemical moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 17 of 136 companies on the "Worse" side.
3 other companies' latest entry also says "Softened".
- FY2026Further reduction of cross-shareholdingsAnnual report
「Unlisted shares 35 ¥3,219 million / Shares other than unlisted shares 34 ¥55,890 million」
Cross-shareholdings totaled 69, further down from 72 holdings in the previous fiscal year. The company continues its policy of reviewing the rationale for each holding and selling and reducing holdings whose rationale cannot be justified. - 2026-05-20SoftenedTreasury Shares
「We received an indication from the shareholders planning to tender that they wished to sell all of the company's common shares they held in stages. We also received indications from other shareholders holding the company's common shares that they wished to sell. Following various considerations by the company, this led to the implementation of the 2024 tender offer.」
In connection with the policy of reducing cross-held shares, the company states that 2 insurance companies planning to tender indicated their intention to sell their holdings in stages. The tender offer was structured for the company to acquire part of those shares. - FY2025Further reduction of cross-shareholdingsAnnual report
「Unlisted shares 36 ¥3,150 million / Shares other than unlisted shares 36 ¥56,431 million」
Cross-shareholdings totaled 72, further down from 80 holdings in the previous fiscal year. The company continues to review annually whether the benefits and risks of the business relationships justify the cost of capital and to sell holdings that are not rational. - FY2024Further reduction of cross-shareholdingsAnnual report
「Unlisted shares 38 ¥4,018 million / Shares other than unlisted shares 42 ¥73,900 million」
Cross-shareholdings totaled 80, further down from 96 holdings in the previous fiscal year. The company continues to verify the rationale for each holding annually and to sell and reduce holdings whose rationale cannot be justified. - FY2023Further reduction of cross-shareholdingsAnnual report
「Unlisted shares 38 ¥3,988 million / Shares other than unlisted shares 56 ¥69,106 million」
Cross-shareholdings totaled 94, down from 96 holdings in the previous fiscal year. The policy of selling and reducing holdings whose rationale cannot be justified remains in place. - FY2022Further reduction of cross-shareholdingsAnnual report
「The Company may hold shares in business partners when, in view of their strategic importance, maintaining and strengthening stable business relationships with them is considered to contribute to enhancing corporate value based on the Company's sustainable growth. Shares judged not to have a rational holding purpose will be sold successively, and the holdings will be reduced.」
Cross-shareholdings decreased from 102 holdings in the previous fiscal year to 96, comprising 38 unlisted holdings and 58 listed holdings. The policy of reducing the holdings remains in place. - FY2021Further reduction of cross-shareholdingsAnnual report
「Shares judged not to have a rational holding purpose will be sold successively, and the holdings will be reduced.」
Cross-shareholdings decreased from 102 holdings in the previous fiscal year to 98, while their total carrying amount on the balance sheet was approximately ¥69.8 billion. The policy of selling and reducing holdings without a rational purpose remains in place. - FY2020Continuing to reduce cross-shareholdingsAnnual report
「Shares judged not to have a rational holding purpose will be sold successively, and the holdings will be reduced. There are 40 unlisted holdings and 62 holdings other than unlisted shares.」
Cross-shareholdings decreased from the previous 109 holdings to a total of 102, comprising 40 unlisted holdings and 62 listed holdings. The policy of selling and reducing holdings whose rationale cannot be justified remains in place. - FY2019Reduced cross-shareholdingsAnnual report
「The Company may hold shares in business partners when, in view of their strategic importance, maintaining and strengthening stable business relationships with them is considered to contribute to enhancing corporate value based on the Company's sustainable growth. Shares judged not to have a rational holding purpose will be sold successively, and the holdings will be reduced.」
Cross-shareholdings decreased from the previous 127 holdings with a carrying amount of ¥76,503 million to 109 holdings with a carrying amount of ¥70,528 million. The company explicitly states its policy of successively selling and reducing holdings whose rationale cannot be justified. - FY2018Updated the carrying amount of cross-shareholdingsAnnual report
「127 holdings; ¥76,503 million」
The number of cross-shareholdings remains 127, while their carrying amount on the balance sheet has increased from the previously disclosed ¥72,456 million to ¥76,503 million. The purpose of holding them is to maintain and strengthen medium- to long-term relationships in business, finance, procurement of materials, research and development, and other areas. - FY2017First statedAnnual report
「127 holdings; ¥72,456 million / Maintaining and strengthening business relationships from a medium- to long-term perspective」
The company holds 127 equity investments other than those held for pure investment purposes, with a carrying amount on the balance sheet of ¥72,456 million. Their stated purpose is to maintain and strengthen medium- to long-term relationships in business, finance, procurement of materials, research and development, and other areas.