Reviewing the Appropriateness of Strategic Shareholdings Using the Cost of Capital and ROE
First written in FY2020. 4 of 6 entries say "Advanced", first in FY2022. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Shares other than unlisted shares 5 4,930」
Under its assessment of whether holdings should be retained using the cost of capital and the target companies' ROE, the Company sold 5 listed holdings and other shares and disclosed total sale proceeds of ¥4,930 million. - 2026-05-14AdvancedResults presentation materials
「●Reduction of cross-shareholdings Actual: ¥8 billion」
Reports an actual reduction of ¥8 billion in cross-shareholdings. - FY2025RestatedAnnual report
「With regard to the rationality of holding shares and whether individual holdings should be retained, our policy is to confirm our cost of capital and the target company's ROE from the perspective of capital efficiency and make a comprehensive assessment. Each year, the Board of Directors reviews and confirms whether holdings should be retained, including their relevance to our business and their potential contribution to the future direction of our business.」
The Company continues its annual Board of Directors review using the cost of capital and the target companies' ROE and sold 3 listed holdings and other shares during the fiscal year. - FY2023AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Unlisted shares 1 Shares other than unlisted shares 3」
The Company continues to conduct an annual Board of Directors review of its strategic shareholdings and sold 1 unlisted holding and 3 listed holdings and other shares during the fiscal year. - FY2022AdvancedAnnual report
「With regard to the rationality of holding shares and whether individual holdings should be retained, our policy is to confirm our cost of capital and the target company's ROE from the perspective of capital efficiency and make a comprehensive assessment. Each year, the Board of Directors reviews and confirms whether holdings should be retained, including their relevance to our business and their potential contribution to the future direction of our business.」
The Company continues to conduct an annual Board of Directors review of its strategic shareholdings and sold 7 holdings other than unlisted shares during the fiscal year. - FY2020First statedAnnual report
「With regard to the rationality of holding shares and whether individual holdings should be retained, our policy is to confirm our cost of capital and the target company's ROE from the perspective of capital efficiency and make a comprehensive assessment. Each year, the Board of Directors reviews and confirms whether holdings should be retained, including their relevance to our business and their potential contribution to the future direction of our business.」
For strategic shareholdings, the Company has explicitly disclosed for the first time a mechanism to confirm the cost of capital and the target company's ROE and assess each year at a Board of Directors meeting whether the holdings should be retained.