Policy for Verifying the Rationale for and Reviewing Strategic Shareholdings
First written in FY2019. 9 of 10 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「The company verifies the significance of each cross-shareholding every fiscal year. Based on the review as of 31 March 2026, it confirmed that all currently held cross-shareholdings are held for purposes consistent with its holding policy.」
The company conducted an individual review of its holdings as of 31 March 2026 and confirmed that they were held for purposes consistent with its holding policy. It held 5 unlisted issues and 24 issues other than unlisted shares, and sold 1 issue for ¥94.9 million. - FY2025AdvancedAnnual report
「The company verifies the significance of its cross-shareholdings individually each fiscal year. Based on the review as of 31 March 2025, it confirmed that all currently held cross-shareholdings were held for purposes consistent with its holding policy.」
The company conducted a review as of 31 March 2025. It held 5 unlisted issues and 25 issues other than unlisted shares, while its listed shares and other holdings decreased by 1 issue. - FY2024AdvancedAnnual report
「The company verifies the significance of its cross-shareholdings individually each fiscal year. Based on the review as of 31 March 2024, it confirmed that all currently held cross-shareholdings were held for purposes consistent with its holding policy.」
The company conducted a review as of 31 March 2024. It held 5 unlisted issues and 26 issues other than unlisted shares, while its listed shares and other holdings decreased by 2 issues. - FY2023AdvancedAnnual report
「The company verifies the significance of its cross-shareholdings individually each fiscal year. Based on the review as of 31 March 2023, it confirmed that all currently held cross-shareholdings were held for purposes consistent with its holding policy.」
The company conducted a review of individual holdings as of 31 March 2023. Its cross-shareholdings comprised 5 unlisted issues and 28 listed issues, and it confirmed that they were held for purposes consistent with its holding policy. - FY2022AdvancedAnnual report
「Each fiscal year, the company verifies the significance of holding each individual cross-shareholding. Based on the verification as of 31 March 2022, it confirmed that all currently held cross-shareholdings are held for purposes consistent with its holding policy.」
The company conducted an individual review of its cross-shareholdings as of 31 March 2022 and confirmed that its current holdings were held for purposes consistent with its holding policy. Its cross-shareholdings comprised 5 unlisted issues and 28 listed issues. - FY2021AdvancedAnnual report
「Each fiscal year, we verify the significance of holding each cross-held share. Based on the results of the verification as of 31 March 2021, we confirmed that all cross-held shares currently held are held for purposes consistent with our holding policy.」
The company conducted an individual review of its cross-shareholdings as of 31 March 2021 and confirmed that its current holdings were held for purposes consistent with its holding policy. - FY2020AdvancedAnnual report
「The company verifies the significance of its cross-shareholdings individually each fiscal year. Based on the review as of 31 March 2020, it confirmed that all currently held cross-shareholdings were held for purposes consistent with its holding policy.」
The company conducted a review of the rationale for its cross-shareholdings as of 31 March 2020 and stated that all currently held shares were held for purposes consistent with its holding policy. - FY2019First statedAnnual report
「The company’s policy is to hold shares only when it determines that strengthening and maintaining relationships with companies with which it has business dealings will develop its business and contribute to enhancing corporate value. In reviewing the rationale for each holding, the company examines whether the benefits and risks associated with the holding are commensurate with its cost of capital and whether the holding is consistent with its purpose, such as strengthening and maintaining relationships over the medium to long term. The Board of Directors periodically reviews the rationale for each investment based on the above method, examines its purpose and other factors, and determines whether to continue holding the shares when the holding is no longer considered reasonable.」
The company has stated for the first time that its purpose for holding cross-shareholdings is limited to strengthening and maintaining business relationships, and that it will compare the benefits and risks with the cost of capital, conduct periodic reviews by the Board of Directors, and reconsider whether to continue holding them.