Reviewing the Benefits and Risks of Strategically Held Shares and Reducing Such Holdings
First written in FY2019. 4 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026RestatedAnnual report
「The company conducts an annual review based on these criteria at meetings of the Board of Directors and other bodies, and seeks to reduce holdings of shares whose rationale has weakened through sales or other means.」
The company reconfirms its policy of conducting annual reviews and reducing cross-shareholdings through sales or other means when their rationale has weakened. It made no sales during the fiscal year and holds only 4 issues of unlisted shares worth ¥14 million. - FY2025No disclosure of sales of cross-shareholdings; only unlisted shares heldAnnual report
「Unlisted shares 4 14 Shares other than unlisted shares - -」
The company states that it made no sales of cross-shareholdings during the fiscal year and holds 4 issues of unlisted shares, with a balance-sheet carrying amount of ¥14 million. - FY2024AdvancedAnnual report
「Shares other than unlisted shares 2 17」
The company sold 2 issues of shares other than unlisted shares held as cross-shareholdings, for total proceeds of ¥17 million. - FY2023Sale of 1 cross-shareholding for ¥1 millionAnnual report
「Shares other than unlisted shares 1 1」
The company sold 1 issue of shares other than unlisted shares held as cross-shareholdings, for total proceeds of ¥1 million. - FY2022AdvancedAnnual report
「Shares other than unlisted shares 1 3」
The company sold 1 issue of shares other than unlisted shares held as cross-shareholdings, for total proceeds of ¥3 million. - FY2021AdvancedAnnual report
「Shares other than unlisted shares 2 23」
During the fiscal year, the company sold 2 issues of shares other than unlisted shares held as cross-shareholdings, for total proceeds of ¥23 million. - FY2020AdvancedAnnual report
「Regarding the exercise of voting rights attached to cross-shareholdings, we will make a comprehensive determination of whether each proposal will contribute to the issuing company’s sustainable growth and enhancement of corporate value, and will oppose proposals that could adversely affect the issuing company’s financial soundness, among others.」
In addition to its policy on holding and reducing cross-shareholdings, the company provides specific criteria for exercising voting rights. - FY2019First statedAnnual report
「Regarding cross-shareholdings held for purposes other than investment, our policy is to retain only those holdings for which we determine that the associated benefits and risks are commensurate with the cost of capital and contribute to enhancing corporate value. We conduct an annual review based on these criteria at meetings of the Board of Directors and other bodies, and seek to reduce holdings through sales or other means when their strategic significance has diminished.」
The company has explicitly stated, for the first time, its policy of using consistency with the cost of capital as a criterion for cross-shareholdings, reviewing them annually at meetings of the Board of Directors and other bodies, and reducing holdings through sales or other means when their strategic significance has diminished.