Cross-shareholdings held to maintain and strengthen business relationships
First written in FY2019. 3 of 4 entries say "Advanced", first in FY2021. Latest entry: FY2026.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- FY2026AdvancedAnnual report
「During the fiscal year, the only holding whose number of shares increased was 1 unlisted shareholding. The total acquisition cost related to the increase in shares was ¥2,156 million. The shares were acquired to strengthen business relationships and achieve sustainable growth.」
Under its policy of verifying the rationale for cross-held shares each year, the company acquired 1 unlisted shareholding for ¥2,156 million to strengthen business relationships and achieve sustainable growth. - FY2022AdvancedAnnual report
「For each cross-held shareholding, the company verifies the rationale for continuing to hold it at the Management Committee meeting every year, from perspectives including whether the benefits of holding it are commensurate with the company's cost of capital. For shares deemed to have weakened rationale, the company will consider selling them.」
The company continues its policy of verifying the rationale for cross-held shares each year. During the fiscal year, it reduced 1 unlisted shareholding and 1 listed shareholding, with proceeds from the sale of listed shares amounting to ¥355 million. - FY2021AdvancedAnnual report
「For each cross-held shareholding, the company verifies the rationale for continuing to hold it at the Management Committee meeting every year, from perspectives including whether the benefits of holding it are commensurate with the company's cost of capital. For shares deemed to have weakened rationale, the company will consider selling them.」
For cross-held shares, the company specifies a method for verifying their rationale each year at the Management Committee, including comparison with the cost of capital, and sold 5 holdings during the fiscal year. - FY2019First statedAnnual report
「The company may acquire and hold shares other than for pure investment purposes as one means of maintaining and strengthening business relationships.」
The policy of holding shares other than for pure investment purposes as a means of maintaining and strengthening business relationships is described for the first time as an independent topic. No method for verifying the rationale for holding them has been established, and the company states that it will consider a calculation method going forward.