Governance structure
When one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
The Company continues to sell and reduce its strategic shareholdings. However, it states that gains on the sale of shares are inherently nonrecurring and cannot serve as a basis for maintaining dividends at a consistently high level. The number of holdings and amount are not disclosed.
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
The Company received shareholder proposals, and the Board of Directors resolved to oppose all 3 proposals.
| Item | Details |
|---|---|
| Policy on cross-shareholdings | The Company continues to sell and reduce its strategic shareholdings. However, it states that gains on the sale of shares are inherently nonrecurring and cannot serve as a basis for maintaining dividends at a consistently high level. The number of holdings and amount are not disclosed. |
| Controlling shareholder | The controlling shareholder and parent company are not disclosed. |
| Changes this time | The Company received shareholder proposals, and the Board of Directors resolved to oppose all 3 proposals. |
Items this document does not state (5)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company recognizes that enhancing shareholder returns and improving capital efficiency are important management issues. However, it determined that a capital policy balancing sustainable earnings power and financial soundness is necessary, and that it would not be appropriate to support any of the proposals at this time.