Review of the Rationale for Holding Strategic Shareholdings and Consideration of Reductions
First written in FY2020. 4 of 5 entries say "Restated". Latest entry: FY2024.
- FY2024RestatedAnnual report
「Regarding the Board of Directors’ review of whether continued ownership of individual issues is appropriate, the company monitors the status of transactions with the investee companies and their financial condition and operating results 4 times a year on an ongoing basis. It also reviews trends in share prices and market capitalizations over the past 5 years, dividends received, ROE trends, growth, profitability, the significance and economic rationale of the holdings, including strengthening business relationships, and their risk-return profiles, and regularly considers whether continued ownership is appropriate.」
The company continues its policy of reviewing policy-held shares at Board of Directors meetings based on monitoring 4 times a year, trends in share prices and other metrics over the past 5 years, dividends, ROE, growth and profitability, among other factors. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to its previously disclosed policy on verifying the rationale for holding policy shares and considering reductions. - FY2022RestatedAnnual report
「For policy-held shares, we regularly verify the purpose and rationale for holding each individual issue at Board of Directors meetings, comprehensively considering the benefits of holding them, including maintaining and developing business relationships and business expansion through alliances, as well as the risks associated with holding them and our cost of capital, and determine whether continued ownership is appropriate.」
The company continues to conduct regular reviews at Board of Directors meetings of policy-held shares based on business relationships, benefits, risks and cost of capital, among other factors, and to consider reductions if their significance diminishes. - FY2021RestatedAnnual report
「For policy-held shares, we regularly verify the purpose and rationale for holding each individual issue at Board of Directors meetings, comprehensively considering the benefits of holding them, including maintaining and developing business relationships and business expansion through alliances, as well as the risks associated with holding them and our cost of capital, and determine whether continued ownership is appropriate.」
The company continues to review policy-held shares regularly at Board of Directors meetings based on business relationships, benefits, risks and cost of capital, among other factors, and to consider reductions if their significance diminishes. - FY2020First statedAnnual report
「We hold shares for policy purposes only when we determine that doing so will contribute to enhancing our medium- to long-term corporate value, from the standpoint of maintaining stable, long-term business relationships with the companies concerned. For policy-held shares, the Board of Directors regularly verifies the purpose and rationale for holding them and determines whether continued ownership is appropriate for each individual issue. If the significance of a holding is found to have diminished, we will consider reducing it.」
The company has newly disclosed a policy of holding policy shares based on long-term business relationships and their contribution to enhancing corporate value, reviewing them regularly at Board of Directors meetings, and considering reductions if their significance diminishes.