Setting Holding Criteria for Strategic Shareholdings and Annual Verification by the Board
First written in FY2019. 5 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「During the fiscal year, a total of 1 holding was sold. More recently, at a meeting of the Board of Directors held on 26 March 2026, we reviewed whether to continue holding each security and confirmed our policy for selling holdings in the following fiscal year. As of the end of March 2026, the total carrying amount of strategic shareholdings was below 10% of consolidated net assets as a result of the sale of holdings during the fiscal year.」
1 strategic shareholding was sold, and the annual review and confirmation of the following fiscal year's sales policy are continuing. The total carrying amount is below 10% of consolidated net assets. - FY2025AdvancedAnnual report
「During the fiscal year, a total of 5 holdings were sold. More recently, at a meeting of the Board of Directors held on 21 March 2025, we reviewed whether to continue holding each security and confirmed our policy for selling holdings in the following fiscal year. As of the end of March 2025, the total carrying amount of strategic shareholdings was below 10% of consolidated net assets as a result of the sale of holdings during the fiscal year.」
5 strategic shareholdings were sold, reducing their total carrying amount to below 10% of consolidated net assets as of the end of March 2025. - FY2024Disclosure of changes to the holding criteria and holdings exceeding the criteriaAnnual report
「We have established a rule that the total carrying amount of strategic shareholdings must not exceed 10% of consolidated net assets at the most recent fiscal year-end. However, due to the rise in the share prices of the holdings, the total carrying amount of strategic shareholdings exceeded 10% of consolidated net assets as of 31 March 2024. We will consider selling multiple holdings.」
The disclosure changed from the previous criteria for initiating holdings to a rule capping them at 10% of consolidated net assets, and because the holdings actually exceeded the criteria due to rising share prices, the sale of multiple holdings is under consideration. - FY2023AdvancedAnnual report
「During the current fiscal year, the company sold a total of 5 issues. Most recently, at a Board of Directors meeting held on 24 March 2023, it verified whether each holding should be continued and confirmed its policy on sales in the following fiscal year.」
During the fiscal year, 5 strategic shareholdings were sold, and the policy for selling shareholdings in the following fiscal year has also been confirmed. - FY2022AdvancedAnnual report
「Once a year, the company reports to the Board of Directors on all holdings, including whether the benefits exceed the cost of capital and whether there are any safety concerns, and verifies whether each holding should be continued. Most recently, at a Board of Directors meeting held on 24 March 2022, it verified whether each holding should be continued and decided on a policy of selling multiple issues in the following fiscal year.」
At the Board of Directors meeting held on 24 March 2022, the company reviewed all holdings and decided on a policy of selling multiple issues in the following fiscal year. - FY2020AdvancedAnnual report
「Specifically, the company has established the following 3 conditions for initiating a holding: i. the purpose of the holding and the acquisition cost are reasonable; ii. there are no safety concerns; and iii. in principle, the total acquisition cost does not exceed 5% of consolidated total assets.」
For cross-shareholdings, the company specifies 3 conditions for initiating a holding and a threshold of 5% of consolidated total assets. - FY2019First statedAnnual report
「Although the company considers cross-shareholdings an effective option for its management and sales strategies, excessive holdings may lead to financial risk. Accordingly, it controls such holdings by establishing approval criteria when initiating a holding and criteria for considering sales.」
For cross-shareholdings, the company states for the first time that it has established criteria for initiating holdings and considering sales, and plans to verify the holding status of each issue, including acquisition cost and other factors, once a year at a Board of Directors meeting.