Reviewing the Rationale for Policy-Oriented Shareholdings and the Policy for Reducing Them
First written in FY2019. 2 of 3 entries say "Advanced", first in FY2022. Latest entry: FY2025.
- FY2025AdvancedAnnual report
「(Issues for which the number of shares decreased during the fiscal year) Shares other than unlisted shares 1 128,698」
During the fiscal year, the company sold 1 issue of policy-held shares and recorded sale proceeds of ¥128.698 million. The results demonstrate the implementation of its review of the rationale for holding the shares and its reduction policy. - FY2022AdvancedAnnual report
「In reviewing its holdings, the company periodically verifies at Board meetings not only the existence and degree of the purpose for holding them, but also their economic rationale, namely whether the amount of business contribution exceeds the cost of holding them calculated using the cost of shareholders' equity and the after-tax cost of debt. As a result of this review, the company seeks to reduce holdings that do not conform to its holding policy.」
The company has specified its policy for verifying the economic rationale of cross-shareholdings using the cost of shareholders' equity and after-tax cost of debt, and for reducing holdings that do not conform to its policy. - FY2019First statedAnnual report
「The Board of Directors periodically verifies whether there is a purpose and economic rationale for holding the shares. Based on the results, the company classifies the shares held into the following 4 categories and determines its policy for reducing the holdings.」
The company has disclosed for the first time its policy of periodically reviewing the purpose and economic rationale for holding shares of business partners at Board meetings and, based on the results, classifying them as to be held continuously, considered for sale or generally to be sold.