Minimum necessary holdings of cross-shareholdings and regular reviews of their rationale
First written in FY2019. 3 of 5 entries say "Advanced", first in FY2021. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Regarding cross-shareholdings held at the end of the fiscal year, the Board of Directors meeting held on 21 May 2026 conducted a review based on the above criteria and the purpose of each holding, and confirmed that the shares were held for purposes consistent with the holding policy.」
For cross-shareholdings, the appropriateness of each individual holding was reviewed at the Board of Directors meeting held on 21 May 2026. The disclosure also states that 1 unlisted issue was sold. - FY2025AdvancedAnnual report
「Regarding cross-shareholdings held at the end of the fiscal year, the Board of Directors meeting held on 20 May 2025 conducted a review based on the above criteria and the purpose of each holding, and confirmed that the shares were held for purposes consistent with the holding policy.」
For cross-shareholdings, the appropriateness of each individual holding was reviewed at the Board of Directors meeting held on 20 May 2025, and consistency with the holding policy was confirmed. - FY2022RestatedAnnual report
「Regarding cross-shareholdings held at the end of the fiscal year, the Board of Directors meeting held on 20 May 2022 conducted a review based on the above criteria and the purpose of each holding, and confirmed that the shares were held for purposes consistent with the holding policy.」
For cross-shareholdings, the Board of Directors' annual review of the appropriateness of holdings continues, and consistency with the holding policy was confirmed. - FY2021AdvancedAnnual report
「For cross-shareholdings, the Board of Directors reviews the appropriateness of holding each individual issue every fiscal year, based on the status of maintaining and strengthening business relationships, operating performance, the balance with the cost of capital, future prospects and other factors.」
The disclosure states that the Board of Directors conducted an issue-by-issue review of cross-shareholdings for each fiscal year, providing greater specificity on the implementation of the policy. - FY2019First statedAnnual report
「Our basic policy is not to hold such shares except where there is a rational business or other management-related reason. Investment is limited to the minimum necessary, and holdings are reviewed as appropriate after considering their effects on enhancing corporate value and other factors.」
A new policy was expressly stated for cross-shareholdings, limiting them to cases with a rational holding purpose, restricting investment to the minimum necessary and reviewing the appropriateness of holdings for each fiscal year.