Review of the Necessity and Economic Rationale of Strategic Shareholdings
First written in FY2019. 2 of 5 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026Updated results of the reduction of cross-shareholdingsAnnual report
「The company holds 22 issues other than shares of unlisted companies, with a total balance sheet carrying amount of ¥19,911 million. During the fiscal year, it sold 16 issues for total proceeds of ¥31,041 million.」
The company reduced its cross-shareholdings from 34 issues valued at ¥45,277 million in the previous fiscal year to 22 issues valued at ¥19,911 million, selling 16 issues during the fiscal year. - FY2025Updated results of the reduction of cross-shareholdingsAnnual report
「The company holds 34 issues other than shares of unlisted companies, with a total balance sheet carrying amount of ¥45,277 million. During the fiscal year, it sold 17 issues for total proceeds of ¥7,957 million.」
The company updated its cross-shareholdings to 34 issues valued at ¥45,277 million and disclosed the sale of 17 issues for ¥7,957 million. - FY2024AdvancedAnnual report
「Following the review, the company is reducing holdings that it determines have low business necessity and economic rationality. The review is conducted at the end of the fiscal year.」
For cross-shareholdings, the company reviews the necessity and economic rationality of all investment shares at the fiscal year-end and has established a process for reducing holdings with low rationality. It holds 45 issues valued at ¥55,103 million and has reduced 29 issues. - FY2020AdvancedAnnual report
「The Board of Directors reviews all investment shares held by the company, examining their business necessity in light of current and future transactions and whether the benefits and risks associated with holding them are commensurate with the cost of capital and other factors, thereby reviewing their business necessity and economic rationality.」
For cross-shareholdings, the company has explicitly stated that the Board of Directors reviews the business necessity and economic rationality of every holding, taking into account the cost of capital and other factors. - FY2019First statedAnnual report
「From a medium- to long-term perspective, the Group holds shares after reviewing their necessity and rationality, as well as, from the current fiscal year, whether the purpose of holding them is appropriate and whether the benefits and risks associated with holding them are commensurate with the cost of capital and other factors.」
For cross-shareholdings, the company first explicitly stated its policy of reviewing not only business necessity and rationality, but also whether the purpose of holding them is commensurate with the cost of capital and other factors.