Verifying the rationale for strategic shareholdings and reducing them as necessary

「We held the shares to facilitate funding and other matters from MUFG Bank, Ltd., a major financial institution with which the issuing company has business dealings. As the holding no longer affected the facilitation of funding and other matters and cross-shareholdings were unwound during the fiscal year, we changed the purpose of ownership to pure investment.」

「For shares held for purposes other than pure investment, we annually evaluate each holding based on such factors as the purpose of ownership, unrealized gains or losses, dividend yield and trading volume, while reviewing the rationale for continuing to hold it and the number of shares held. We report the results to the Board of Directors as necessary and will reduce holdings in companies whose continued ownership is judged not sufficiently meaningful and in companies showing signs of declining corporate value.」

「We evaluate whether continuing to hold shares held for purposes other than pure investment is expected to enhance our corporate value. Where deemed necessary, the Board of Directors conducts a review, and we will reduce holdings in companies whose continued ownership is judged not sufficiently meaningful and in companies showing signs of declining corporate value.」

「For shares held for purposes other than pure investment, we evaluate whether continuing to hold them is expected to enhance our corporate value. Where deemed necessary, the Board of Directors conducts a review based on an assessment by the accounting department. We will reduce holdings in companies whose continued ownership is judged not necessarily meaningful enough and in companies showing signs of declining corporate value.」