Review of the Purpose and Economic Rationale of Strategic Shareholdings
First written in FY2019. 6 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2025.
- FY2025AdvancedAnnual report
「Regarding the Board of Directors' review, held on 30 January 2026, of whether to hold individual securities as of the end of December 2025, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company continued its qualitative and quantitative reviews of strategic shareholdings, selling 2 listed securities for ¥424 million during the fiscal year and purchasing 2 securities through business-partner shareholding associations. - FY2024AdvancedAnnual report
「Regarding the Board of Directors' review, held on 31 January 2025, of whether to hold individual securities as of the end of December 2024, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company continued its qualitative and quantitative reviews by the Board of Directors. During the fiscal year, it sold no unlisted shares, sold 4 listed securities for ¥232 million, and increased its holdings of 2 securities through business-partner shareholding associations and other means. - FY2023AdvancedAnnual report
「Regarding the Board of Directors' review, held on 31 January 2024, of whether to hold individual securities as of the end of December 2023, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company conducted qualitative and quantitative reviews of its strategic shareholdings based on holdings as of the end of December 2023 and sold 1 unlisted security and 2 listed securities. - FY2022AdvancedAnnual report
「Regarding the Board of Directors' review, held on 31 January 2023, of whether to hold individual securities as of the end of December 2022, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company conducted the Board of Directors' review based on holdings as of the end of December 2022, sold 3 strategic shareholdings, and increased the number of shares held in 2 securities to strengthen ongoing business relationships. - FY2021AdvancedAnnual report
「Regarding the Board of Directors' review, held on 31 January 2022, of whether to hold individual securities as of the end of December 2021, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company conducted the Board of Directors' review based on holdings as of the end of December 2021 and reported selling 3 unlisted securities and 2 listed securities among its strategic shareholdings. - FY2020AdvancedAnnual report
「Regarding the Board of Directors' review, held on 29 January 2021, of whether to hold individual securities as of the end of December 2020, the company reviewed qualitative benefits, including the existence of business relationships, prospects for future transactions, benefits of continued ownership, and disadvantages of not holding the securities, as well as quantitative benefits, including transaction and profit amounts over the most recent 5 years, dividends received, share price trends, and whether the benefits of holding the securities exceeded the company's return on equity (ROE), return on assets (ROA) and other metrics, and made a comprehensive judgment on whether the holdings should be retained.」
The company conducted qualitative and quantitative reviews of its strategic shareholdings at the Board of Directors, sold 2 listed securities during the fiscal year, and increased its holdings of 2 securities through membership in business-partner shareholding associations. - FY2019First statedAnnual report
「The company does not hold listed shares as strategic shareholdings unless there is a recognized rationale for doing so. …Once a year, the Board of Directors comprehensively evaluates each investee company based on the purpose of the holding, business relationships, share price performance, returns and other factors, and verifies whether the holding contributes to maintaining or enhancing the corporate value of the investee company and the company, as well as its significance and economic rationale.」
The company states that it generally does not hold strategic shareholdings, conducts an annual review of each investee company at the Board of Directors, and intends to sell holdings where their rationale is limited.