Reviewing the Rationale for Cross-Shareholdings and Reducing Them
First written in FY2020. 6 of 10 entries say "Advanced", first in FY2021. Latest entry: 2026-07-30.
- 2026-07-30AdvancedTimely disclosure
「This is being carried out in accordance with the Basic Policy on Corporate Governance to review policy-held shares and improve capital efficiency. We are reducing policy-held shares with the aim of bringing them below 10% of consolidated net assets by the end of March 2029, and this transaction is part of that effort.」
While maintaining the target of reducing policy-held shares to below 10% of consolidated net assets by the end of March 2029, the company disclosed a specific plan to sell 5 listed securities between 1 August 2026 and 31 March 2027. - FY2026SoftenedAnnual report
「In addition, under its medium-term management plan for fiscal 2026 through fiscal 2028, the Company revised its reduction plan for strategic shareholdings and announced a plan to reduce the balance of strategic shareholdings to less than 10% of net assets by the fiscal year ending March 2029, the final year of the medium-term management plan.」
The balance of strategic shareholdings was reduced to 17.0% of net assets in the fiscal year ending March 2026, while the deadline for achieving the target of less than 10% was extended from the previous fiscal year ending March 2027 to the fiscal year ending March 2029. - FY2025AdvancedAnnual report
「As a result of reducing holdings through careful dialogue with issuers in line with the above plan, the balance of the Company’s strategic shareholdings represented 16.9% of net assets at the end of the fiscal year ended March 2025.」
The balance of strategic shareholdings decreased from ¥53,540 million in the fiscal year ended March 2022 to ¥32,747 million, and the ratio to net assets fell to 16.9%. The plan to reduce it to less than 10% by the fiscal year ending March 2027 remains in place. - FY2024AchievedAnnual report
「At the end of the fiscal year ended March 2024, the balance of the Company’s strategic shareholdings represented 19.6% of net assets. (Total sales in fiscal 2022 and fiscal 2023 were ¥20.5 billion.)」
The Company achieved its plan to reduce strategic shareholdings to less than 20% of net assets in the fiscal year ended March 2024, reaching 19.6%. The balance of strategic shareholdings decreased from ¥53,540 million in the fiscal year ended March 2022 to ¥38,619 million, and the plan to reduce it to less than 10% by the fiscal year ending March 2027 remains in place. - FY2022AdvancedAnnual report
「With respect to shares held under the preceding section (strategic shareholdings), at its meeting held on 27 April 2022, the Company’s Board of Directors examined each holding in detail and reviewed whether it was appropriate to continue holding it, including whether the purpose of the holding was appropriate from the perspective of contributing to long-term corporate value through maintaining and strengthening cooperative relationships in business development and creating business opportunities, and whether the benefits and risks associated with the holding were commensurate with the cost of capital.」
At its Board of Directors meeting held on 27 April 2022, the Company reviewed its strategic shareholdings on an individual-company basis. During the full fiscal year, the number of shares held in 1 unlisted company and 5 listed companies decreased. - FY2021AdvancedAnnual report
「With respect to shares held under the preceding section (strategic shareholdings), at its meeting held on 28 May 2021, the Company’s Board of Directors examined each holding in detail and reviewed whether it was appropriate to continue holding it, including whether the purpose of the holding was appropriate from the perspective of contributing to long-term corporate value through maintaining and strengthening cooperative relationships in business development and creating business opportunities, and whether the benefits and risks associated with the holding were commensurate with the cost of capital.」
For strategic shareholdings, the Board of Directors reviewed whether each individual holding should be retained, including its relationship with the cost of capital. During the full fiscal year, holdings in 1 unlisted company and 4 listed companies were reduced, and the total sale proceeds from listed shares were ¥1,830 million. - FY2020First statedAnnual report
「Going forward, the Company will seek to reduce holdings of shares that it determines do not necessarily need to be held, while taking into account matters such as the potential impact on the market.」
For strategic shareholdings, the Board of Directors individually reviewed the business necessity and the relationship between benefits and risks and the cost of capital, and for the first time explicitly stated its policy of reducing holdings it deemed unnecessary.