Annual review of strategic shareholdings and reduction of holdings lacking a sound rationale
First written in FY2019. 5 of 7 entries say "Advanced", first in FY2022. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「The total amount was ¥44.0 billion as of 31 March 2026, representing 2.8% of total consolidated equity. During the fiscal year ended March 2026, 7 strategic equity holdings were sold for a total of ¥21.6 billion.」
Under the policy of reducing strategic equity holdings, 7 holdings with a total value of ¥21.6 billion were sold during the fiscal year ended March 2026. The balance at the end of the fiscal year was ¥44.0 billion, representing 2.8% of total consolidated equity. - 2026-05-22AdvancedGeneral Meetings of Shareholders
「The status of the cross-shareholdings held by our company and Recruit Co., Ltd. is as follows. Their aggregate value was ¥44.0 billion as of the end of March 2026, equivalent to 2.8% of consolidated total equity. During the fiscal year ending March 2026, we sold 7 cross-shareholdings with an aggregate value of ¥21.6 billion.」
The company disclosed its remaining holdings and sales results as evidence of progress under its policy of reducing cross-shareholdings in principle. - FY2025AdvancedAnnual report
「The strategic equity holdings sold in the fiscal year ended March 2025 comprised 9 holdings, with a total value of ¥25.5 billion.」
Under the policy of reducing strategic equity holdings in principle, 9 holdings with a total value of ¥25.5 billion were sold in FY2025. The balance at the end of the fiscal year was ¥66.0 billion, representing 4.1% of total consolidated equity. - FY2023AdvancedAnnual report
「The total amount was ¥86.4 billion as of 31 March 2023, representing 5.3% of total consolidated equity.」
The annual review by the Board of Directors and the policy of reducing strategic equity holdings in principle have continued. The value of holdings was ¥86.4 billion, representing 5.3% of total consolidated equity, down from ¥90.7 billion and 6.6% in the previous fiscal year. - FY2022AdvancedAnnual report
「Number of holdings with a decrease in the number of shares (holdings) － 1」
For strategic equity holdings, the policy of reducing holdings in principle and the annual review by the Board of Directors have continued. For the fiscal year ended March 2022, a decrease in the number of shares in 1 holding other than unlisted shares was reported. The balance of holdings was ¥90.7 billion, representing 6.6% of total consolidated equity. - FY2020RaisedAnnual report
「As a general policy, we intend to reduce our strategic equity holdings.」
The wording regarding strategic equity holdings has been strengthened from a policy of reducing holdings that do not meet the rationale to a policy of reducing all holdings in principle. - FY2019First statedAnnual report
「We review them thoroughly at the Board of Directors meeting once a year and have a policy of reducing strategic equity holdings that do not meet these criteria.」
For strategic equity holdings, the policy is to quantitatively assess economic value and cost of capital and qualitatively evaluate strategic relationships, and to review once a year at a Board of Directors meeting whether continued ownership is appropriate. This is presented for the first time as a separate topic.