Strategic shareholdings held to maintain business relationships
First written in FY2017. 7 of 11 entries say "Advanced", first in FY2020. Latest entry: FY2026.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- FY2026Update to holdings and carrying amountsAnnual report
「For each individual holding, the company qualitatively and quantitatively verifies the following 2 points at the Board of Directors meeting held on 5 August 2025: whether the purpose of holding is appropriate, and whether the benefits, comprising the sum of business gains and advantages and financial income such as dividends, are commensurate with the cost of capital.」
For policy-held shares, the company conducted a verification at the Board of Directors meeting held on 5 August 2025. It holds 10 unlisted holdings and 33 listed holdings, with a total carrying amount on the balance sheet of ¥54,052 million. - 2026-05-29AdvancedEarnings presentation
「(1) One of the 34 listed shares held by the company was sold (2) One listed share held by a subsidiary was sold」
The company reported sales of policy-held shares held by the company and by a subsidiary. - FY2025AdvancedAnnual report
「The company qualitatively and quantitatively verifies the above 2 points at the Board of Directors meeting held on 2 August 2024. In the verification based on the end of the fiscal year ended March 2024, a clear purpose, such as maintaining and strengthening business relationships, was confirmed for almost all holdings, and the company also confirmed that the benefits exceeded the cost of capital.」
For policy-held shares, the Board of Directors meeting held on 2 August 2024 verified whether the holdings were commensurate with the cost of capital. The company held 10 unlisted holdings and 34 listed holdings and sold 6 listed holdings. - FY2024AdvancedAnnual report
「For each individual holding ・Whether the purpose of holding is appropriate ・Whether the benefits, comprising the sum of business gains and advantages and financial income such as dividends, are commensurate with the cost of capital The above 2 points were qualitatively and quantitatively verified at the Board of Directors meeting held on 4 August 2023.」
For policy-held shares, the Board of Directors meeting held on 4 August 2023 verified whether the purpose of holding and the benefits were commensurate with the cost of capital. The company holds 10 unlisted holdings and 40 listed holdings. - FY2023AdvancedAnnual report
「For each individual holding, the company qualitatively and quantitatively verifies the following 2 points at the Board of Directors meeting held on 5 August 2022: whether the purpose of holding is appropriate, and whether the benefits, comprising the sum of business gains and advantages and financial income such as dividends, are commensurate with the cost of capital.」
For policy-held shares, the Board of Directors meeting held on 5 August 2022 verified whether the purpose and benefits were commensurate with the cost of capital, confirming that the purpose and benefits exceeded the cost of capital for almost all holdings. - FY2022AdvancedAnnual report
「For each individual holding, the company qualitatively and quantitatively verifies the following 2 points at the Board of Directors meeting held on 5 August 2021: whether the purpose of holding is appropriate, and whether the benefits, comprising the sum of business gains and advantages and financial income such as dividends, are commensurate with the cost of capital.」
For policy-held shares, the Board of Directors qualitatively and quantitatively verified whether the purpose of holding and the benefits were commensurate with the cost of capital, confirming that the clear purpose and benefits exceeded the cost of capital for almost all holdings. - FY2021AdvancedAnnual report
「The company qualitatively and quantitatively verifies the above 2 points at the Board of Directors meeting held on 5 August 2020. The cost of equity is estimated using the CAPM (Capital Asset Pricing Model) based on historical share price and other market data, and the resulting WACC (weighted average cost of capital), calculated on a pre-tax basis, is used as the cost of capital.」
For policy-held shares, the company states that the Board of Directors verified whether the purpose of holding and the benefits were commensurate with the cost of capital, confirming a clear purpose and benefits exceeding the cost of capital for almost all holdings. - FY2020AdvancedAnnual report
「For each individual holding, the company qualitatively and quantitatively verifies the following 2 points at the Board of Directors meeting held on 12 September 2019: whether the purpose of holding is appropriate, and whether the benefits, comprising the sum of business gains and advantages and financial income such as dividends, are commensurate with the cost of capital.」
The company reports operational progress in verifying qualitatively and quantitatively at Board of Directors meetings whether the purpose of holding policy-held shares is appropriate and whether their benefits are commensurate with the cost of capital. - FY2019Update to the number and balance of holdingsAnnual report
「Unlisted shares: 14 holdings; total carrying amount on the balance sheet: ¥150 million; shares other than unlisted shares: 44 holdings; total carrying amount on the balance sheet: ¥15,981 million」
For policy-held shares held to facilitate business relationships and other activities, the company reports a total of 58 holdings with a carrying amount on the balance sheet of ¥16,131 million. - FY2018Update to the number and balance of holdingsAnnual report
「Number of holdings 61 holdings Total carrying amount on the balance sheet 17,267 million yen」
For policy-held shares held to facilitate business relationships and other activities, the company reports 61 holdings with a total carrying amount of ¥17.267 billion. - FY2017First statedAnnual report
「Number of holdings: 60 Total carrying amount on the balance sheet: ¥15,065 million Purpose of holding: To facilitate business relationships and other activities」
The company holds 60 shares held for purposes other than pure investment, with a total carrying amount of ¥15.065 billion, to facilitate business relationships and other activities.