Minimum Necessary Strategic Shareholdings and Review of Their Rationale
First written in FY2019. 3 of 4 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Issues for which the number of shares decreased during the fiscal year Other than unlisted shares 3」
The policy of reviewing the rationale for all strategic shareholdings was continued, and the filing company reduced its holdings in 3 listed issues during the fiscal year. - FY2023AdvancedAnnual report
「The Board of Directors also discloses the details of its review for each individual issue.」
For strategic shareholdings, the rationale for holding every issue was reviewed each year, and 2 listed issues were sold during the year. - FY2020AdvancedAnnual report
「Each year, in addition to reviewing whether the benefits associated with holding shares are commensurate with the cost of capital, we review the rationale for holding every issue, taking into account share-price volatility and the issuing company's medium- to long-term contribution to our business. Where no rationale for holding a share is identified, we proceed with its sale. Under this policy, we sold 7 issues during the fiscal year.」
The policy of reviewing the rationale for strategic shareholdings was continued, and 丸善石油化学 sold 7 issues during the fiscal year. - FY2019First statedAnnual report
「Listed shares are held only to the minimum extent necessary. Each year, the Group comprehensively and specifically reviews each such holding in terms of capital costs, benefits, medium- to long-term economic rationale and other factors, with a view to achieving sustainable growth and enhancing corporate value over the medium to long term.」
For strategic shareholdings, the company disclosed for the first time as a standalone policy its policy of holding only the minimum number of shares necessary and reviewing capital costs, benefits and medium- to long-term economic rationale each year.