Quantitative Review and Reduction of Cross-Shareholdings
First written in FY2020. 7 of 9 entries say "Advanced", first in FY2021. Latest entry: 2026-08-05.
- 2026-08-05AdvancedEarnings
「We sold part of our investment securities held to improve capital efficiency and completed the transfer of an interest in 1 consolidated subsidiary as part of the restructuring of our China business.」
The company disclosed the sale of part of its cross-held shares to improve capital efficiency. - FY2026AdvancedAnnual report
「The ratio of total cross-shareholdings to consolidated net assets for the fiscal year ending March 2026 meets the above policy. However, to further improve capital efficiency and enhance corporate value over the medium to long term, the company sold 3 holdings in May 2026.」
After meeting its policy of keeping cross-shareholdings at 10% or less of consolidated net assets, the company sold 3 holdings in May 2026. - FY2025AdvancedAnnual report
「The policy is to keep the total amount of cross-shareholdings at 10% or less of consolidated net assets. …For all shares for which quantitative measurement was possible using annual transaction volume, transaction trends over the past 3 years, and transaction volume relative to the investment amount, the company confirmed that the objectives of the holdings had been achieved.」
The company explicitly stated its policy of keeping cross-shareholdings at 10% or less of consolidated net assets and, as of the end of March 2025, confirmed that the objectives of all quantitatively measurable holdings had been achieved. It also disclosed the sale of 6 holdings. - FY2023RestatedAnnual report
「For all shares for which quantitative measurement was possible using annual transaction volume, transaction trends over the past 3 years, and transaction volume relative to the investment amount, the company confirmed that the objectives of the holdings had been achieved.」
The policy and review results confirming that the objectives of all quantitatively measurable cross-shareholdings had been achieved remain in place. - FY2022AdvancedAnnual report
「For all shares for which quantitative measurement was possible using annual transaction volume, transaction trends over the past 3 years, and transaction volume relative to the investment amount, the company confirmed that the objectives of the holdings had been achieved.」
The company confirmed that the objectives of all measurable cross-shareholdings had been achieved through its quantitative review. It has also sold holdings whose significance had diminished. - FY2021AdvancedAnnual report
「For approximately 90% of the shares for which quantitative measurement was possible using annual transaction volume, transaction trends over the past 3 years, and transaction volume relative to the investment amount, the company confirmed that the objectives of the holdings had been achieved.」
The company conducted a quantitative review of its cross-shareholdings and confirmed that the objectives of the holdings had been achieved for approximately 90% of the measurable holdings. It has also sold holdings whose significance had diminished. - FY2020First statedAnnual report
「For each cross-shareholding, the Board of Directors conducts an annual, regular review of whether continued ownership is appropriate, taking a medium- to long-term perspective and considering the company's business strategy and business relationships with business partners.」
The company disclosed its review of cross-shareholdings using annual transaction volume, transaction trends over the past 3 years, and transaction volume relative to the investment amount, along with a policy of reducing holdings deemed inappropriate to retain.