Limited Holdings and Reduction of Cross-Shareholdings
First written in FY2023. 2 of 4 entries say "Raised", first in FY2024. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「During the fiscal year, the number of holdings decreased by 13 issues, book value was reduced by ¥5.0 billion and sales proceeds totaled ¥13.9 billion. As of 31 March 2026, listed cross-held shares represented 23.43% of consolidated net assets on a market-value basis.」
Listed cross-held shares were reduced from 105 issues to 92, with a ¥5.0 billion reduction in book value, and the ratio to consolidated net assets declined from 24.73% to 23.43%. Progress toward the target of less than 20% by the end of fiscal 2028 was disclosed. - FY2025RaisedAnnual report
「On 29 May 2025, with the aims of further strengthening governance functions and improving capital efficiency to enhance corporate value, the reduction target for listed cross-held shares was changed to less than 20% of consolidated net assets, based on market value, by the end of fiscal 2028.」
The deadline was brought forward from the end of fiscal 2030 to the end of fiscal 2028, and the reduction target was tightened from approximately 20% to less than 20%. - FY2024RaisedAnnual report
「On 6 June 2024, with the aims of further strengthening governance functions and improving capital efficiency to enhance corporate value, the company set a reduction target for listed cross-held shares: by the end of fiscal 2030, their market value should represent approximately 20% of consolidated net assets.」
In addition to the existing policy of limited holdings and reduction, a time-bound, quantitative reduction target was established to bring listed cross-held shares to approximately 20% of consolidated net assets by the end of fiscal 2030. - FY2023First statedAnnual report
「With respect to specified investment shares held for purposes other than pure investment, our basic policy is to hold them only on a limited basis when maintaining and strengthening cooperative relationships with business partners contributes to the growth and revitalization of the regional economy and thereby helps enhance the medium- to long-term corporate value of our group and business partners. From the perspectives of controlling the risks associated with shareholdings and improving capital efficiency, we will work to reduce these holdings after obtaining sufficient understanding from the companies concerned.」
The policy is to hold cross-held shares only on a limited basis and reduce them from the perspectives of controlling shareholding risk and improving capital efficiency.