Reviewing the Rationale for Cross-Shareholdings and Deciding on Reductions
First written in FY2019. 2 of 3 entries say "Restated". Latest entry: FY2021.
- FY2021RestatedAnnual report
「Under its basic policy of reducing strategic shareholdings as quickly as possible when their purpose has weakened, the company verifies the rationale for each strategic holding at every fiscal year-end at the board level, taking into account future business potential, the benefits and risks of holding the shares and their consistency with the cost of capital.」
The company continues to disclose its policy of promptly reducing strategic shareholdings when their rationale weakens and having the board verify the rationale annually. No holdings decreased during the fiscal year. - FY2020RestatedAnnual report
「As a basic policy, the company will limit shares held for strategic investment purposes to the minimum necessary from the perspective of controlling shareholding risks and improving capital efficiency. While continuously monitoring the financial condition of investee companies, it uses the trend in market-value changes over a given period as material for verifying the rationale.」
The company continues to state its policy of limiting strategic shareholdings to the minimum necessary and verifying their rationale through ongoing monitoring of investees’ financial condition and market-value movements. - FY2019First statedAnnual report
「We will verify the rationale for individual holdings, decide whether to reduce them and, as necessary, conduct periodic reviews by the board of directors.」
The company first disclosed as a standalone theme its policy of verifying the rationale for individual strategic holdings, deciding whether to reduce them and reviewing them periodically at board meetings.