Review and Reduction of Strategic Shareholdings Based on Business Relationships and Corporate Value
First written in FY2019. 4 of 5 entries say "Restated". Latest entry: FY2024.
- FY2024RestatedAnnual report
「In accordance with this policy, the Board of Directors periodically reviews the medium- to long-term economic rationale and future prospects. If it determines that the rationale for holding the shares is not necessarily sufficient, it will seek to reduce its cross-shareholdings. In determining whether the holdings are rational, the company reviews their significance in its business strategy, including business relationships, against the risks associated with holding them.」
The company continues its policy of reviewing business relationships, synergies and economic rationale at Board of Directors meetings and reducing cross-shareholdings when the rationale for holding them is insufficient. - FY2023RestatedAnnual report
「In accordance with this policy, the Board of Directors periodically reviews the medium- to long-term economic rationale and future prospects. If it determines that the rationale for holding the shares is not necessarily sufficient, it will seek to reduce its cross-shareholdings.」
The company continues its policy of reviewing business relationships, synergies and economic rationale at Board of Directors meetings and reducing cross-shareholdings when the rationale for holding them is insufficient. - FY2022RestatedAnnual report
「In accordance with this policy, the Board of Directors periodically reviews the medium- to long-term economic rationale and future prospects. If it determines that the rationale for holding the shares is not necessarily sufficient, it will seek to reduce its cross-shareholdings.」
The company continues its policy of reviewing business relationships, synergies and economic rationale at Board of Directors meetings and reducing cross-shareholdings when the rationale for holding them is insufficient. - FY2020RestatedAnnual report
「In accordance with this policy, the Board of Directors periodically reviews the medium- to long-term economic rationale and future prospects. If it determines that the rationale for holding the shares is not necessarily sufficient, it will seek to reduce its cross-shareholdings.」
The company continues its policy of reviewing business relationships, synergies and economic rationale at Board of Directors meetings and reducing cross-shareholdings when the rationale for holding them is insufficient. - FY2019First statedAnnual report
「The company’s policy is to hold shares only when it believes that doing so will increase its corporate value and benefit shareholders and investors. Specifically, it holds shares in Nippon Signal Company,Limited, a parking equipment manufacturer whose products the company uses to operate its parking facilities. In accordance with this policy, the Board of Directors periodically reviews the medium- to long-term economic rationale and future prospects. If it determines that the rationale for holding the shares is not necessarily sufficient, it will seek to reduce its cross-shareholdings.」
The company explicitly describes for the first time its policy of holding cross-shareholdings based on strengthening medium- to long-term relationships with business partners and synergies with the parking business, and reducing them when the Board of Directors determines, after reviewing their economic rationale and other factors, that their significance is insufficient.