Review of Strategic Shareholdings Based on Cost of Capital and Synergies
First written in FY2019. 6 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2025.
- 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 its annual review of cross-shareholdings as of 31 March 2025 and confirmed that its current holdings served purposes consistent with its holding policy. It held 3 unlisted companies and 9 listed companies, and acquired 1 holding during the fiscal year. - 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 its annual review as of 31 March 2024 and confirmed that its current holdings served purposes consistent with its holding policy. Its cross-shareholdings comprised 3 unlisted companies and 9 listed companies; during the fiscal year, it acquired 1 holding and sold 2 holdings. - 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 its annual review as of 31 March 2023 and confirmed that its current holdings served 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 its annual review of cross-shareholdings as of 31 March 2022 and confirmed that its current holdings served purposes consistent with its holding policy. - 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 a review of cross-shareholdings as of 31 March 2021 and states that it confirmed that its current holdings served 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 states that it conducts annual reviews of cross-shareholdings and confirmed, in its review as of 31 March 2020, that its current holdings served purposes consistent with its holding policy. - FY2019First statedAnnual report
「In reviewing cross-shareholdings, the company conducts an annual review for each holding based on whether the benefits and risks associated with holding the shares are commensurate with the cost of capital and whether the holding is consistent with its purposes, such as maintaining medium- to long-term relationships and creating synergies. The results are reported to the Board of Directors.」
For cross-shareholdings, the company explicitly describes for the first time a system of annual reviews based on the consistency of the benefits and risks with the cost of capital and the objectives of maintaining medium- to long-term relationships and creating synergies, with the results reported to the Board of Directors.