Assessing the Rationale for and Reducing Cross-Shareholdings
First written in FY2021. 2 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023RestatedAnnual report
「In deciding whether to hold strategic shareholdings, the company considers qualitative factors, including the establishment and strengthening of smooth, sound business relationships and ties to the regional economy, as well as quantitative factors such as transaction profitability, dividends received and other economic rationality, using a dividend yield of at least 1.5% as a benchmark. The Board of Directors reviews all strategic shareholdings on an ongoing basis each year.」
The company continues its policy of reviewing strategic shareholdings annually using criteria including a dividend yield of at least 1.5% and reducing holdings whose significance has diminished. - FY2022RestatedAnnual report
「In deciding whether to hold strategic shareholdings, the company considers qualitative factors, including the establishment and strengthening of smooth, sound business relationships and ties to the regional economy, as well as quantitative factors such as transaction profitability, dividends received and other economic rationality, using a dividend yield of at least 1.5% as a benchmark. The Board of Directors reviews all strategic shareholdings on an ongoing basis each year.」
The company continues its policy of reviewing strategic shareholdings annually at the Board of Directors using criteria including a dividend yield of at least 1.5%, and reducing holdings whose significance has diminished. - FY2021First statedAnnual report
「As a basic policy, the company holds strategic shareholdings only where it determines that they will contribute to improving the medium- to long-term corporate value of Group companies. In deciding whether to hold such shares, the company considers qualitative factors, including the establishment and strengthening of smooth, sound business relationships and ties to the regional economy, as well as quantitative factors such as transaction profitability, dividends received and other economic rationality, using a dividend yield of at least 1.5% as a benchmark. The Board of Directors reviews all strategic shareholdings on an ongoing basis each year.」
The company has stated for the first time that strategic shareholdings will be limited to those contributing to medium- to long-term corporate value and reviewed annually by the Board of Directors using criteria including a dividend yield of at least 1.5%. One holding whose business relationship had become less significant was removed from the strategic shareholdings.