Review of the Rationale for Strategic Shareholdings and Phased Sales
First written in FY2020. 5 of 7 entries say "Advanced", first in FY2021. Latest entry: 2026-10-07.
- 2026-10-07AdvancedShare Issuance and Disposal
「Meanwhile, in the stock market, companies have been reviewing cross-shareholdings from the perspective of strengthening corporate governance. Against this backdrop, the Company held discussions mainly with financial institutions holding its shares and decided to conduct this offering after reaching agreement on the sale.」
Regarding the assessment of the rationale for cross-shareholdings and their gradual sale, the Company has progressed from disclosing sales of individual holdings to reaching agreement on the sale of holdings owned mainly by financial institutions and deciding to offer 3,570,800 shares for sale. The original canonical thread remains unchanged. - FY2026AdvancedAnnual report
「(Shares for which the number held decreased during the fiscal year under review)\nShares other than unlisted shares | 3 | 144」
Disclosed the sale of shares in 3 companies during the fiscal year and total sale proceeds of ¥144 million for cross-shareholdings. Continued phased disposals based on the rationale criteria. - FY2025AdvancedAnnual report
「Following discussions, we sold some shares during the fiscal year under review, resulting in a decrease in the number of shares held.」
Disclosed the sale of shares in 2 companies during the fiscal year and total sale proceeds of ¥88 million for cross-shareholdings. Continued phased disposals based on the rationale criteria. - FY2024AdvancedAnnual report
「Following discussions, we sold some shares during the fiscal year under review, resulting in a decrease in the number of shares held.」
Disclosed a reduction in the number of shares held in 2 companies and total sale proceeds of ¥9 million for cross-shareholdings during the fiscal year under review, demonstrating the results of phased disposals. - FY2022RestatedAnnual report
「When reviewing economic rationale, we consider for sale shares in companies whose total transaction value over the most recent 3 years is less than ¥100 million. We also consider for sale shares in companies whose average ROE over the most recent 3 years is below our average ROE over the same period.」
Reconfirmed the criteria for considering cross-shareholdings for sale when total transactions are below ¥100 million or the average ROE over the most recent 3 years is below ours. - FY2021AdvancedAnnual report
「When reviewing economic rationale, we consider for sale shares in companies whose total transaction value over the most recent 3 years is less than ¥100 million. We also consider for sale shares in companies whose average ROE over the most recent 3 years is below our average ROE over the same period.」
Specified criteria for considering cross-shareholdings for sale when total transactions over the most recent 3 years are below ¥100 million or the average ROE over the most recent 3 years is below ours. - FY2020First statedAnnual report
「As a general rule, we do not hold cross-shareholdings unless we determine that they will contribute to enhancing our corporate value, from the perspectives of business strategy, business alliances with business partners, or maintaining and strengthening business relationships.」
For cross-shareholdings, disclosed in specific terms for the first time its policy of reviewing the purpose of holdings, confirming their rationale annually through the Board of Directors, and gradually selling shares whose significance as holdings has diminished.