Strategic shareholdings held to maintain and strengthen intercompany transactions
First written in FY2018. 5 of 10 entries say "Advanced", first in FY2020. Latest entry: FY2025.
The whole theme swung hardest in 2019: 17 of 137 companies on the "Worse" side.
- FY2025RestatedAnnual report
「The Board of Directors conducts a specific annual review of each cross-shareholding to determine whether it conforms to the Company's basic policy, whether its holding purpose is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding is appropriate. If the holding is found to be unjustified, the Company will reduce it.」
The Company continues its annual reviews of cross-shareholdings and its policy of reducing holdings where their rationale is not justified. - FY2024AdvancedAnnual report
「Shares other than unlisted shares 1 2,227 Acquisition of shares through contributions to an employee shareholding association for business partners and reinvestment of dividends, to maintain and expand business relationships over the medium to long term」
With respect to cross-shareholdings, contributions to an employee shareholding association for business partners and reinvestment of dividends increased the number of shares held in 1 issue. The Company continues its policy of reviewing the appropriateness of its holdings each year and reducing them where their rationale is not justified. - FY2023RestatedAnnual report
「For each cross-shareholding, the Company conducts a specific review to determine whether it conforms to its basic policy, whether its holding purpose is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding is appropriate. The Company has confirmed that all cross-shareholdings currently held are held for purposes consistent with its holding policy.」
The Company continues to conduct annual reviews of whether its cross-shareholdings remain appropriate and to pursue a policy of reducing holdings where their rationale is not justified. - FY2022RestatedAnnual report
「For each cross-shareholding, the Company conducts a specific review to determine whether it conforms to its basic policy, whether its holding purpose is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding is appropriate. The Company has confirmed that all cross-shareholdings currently held are held for purposes consistent with its holding policy.」
The Company continues to conduct annual reviews of whether its cross-shareholdings remain appropriate and to pursue a policy of reducing holdings where their rationale is not justified. As in the previous fiscal year, it sold shares during the current fiscal year and recognized a ¥338 million gain on sales of investment securities. - FY2022-Q3AdvancedAnnual report
「Under extraordinary gains and losses, as a result of proceeding with sales and disposals following a review of the significance of holding cross-shareholdings, the Company recognized a ¥338 million gain on sales of investment securities as an extraordinary gain.」
Following a review of the significance of its cross-shareholdings, the Company proceeded with sales and disposals and recognized a ¥338 million gain on sales of investment securities. - FY2022-Q2AdvancedAnnual report
「To review cross-shareholdings in accordance with the Corporate Governance Code and improve asset efficiency.」
To review cross-shareholdings and improve asset efficiency, the Company resolved to sell 1 listed security it held and disclosed plans to sell it between April and August 2022, with an expected gain on sale of ¥300 million. - FY2021AdvancedAnnual report
「Acquisition of shares through contributions to an employee shareholding association for business partners and reinvestment of dividends, to maintain and expand business relationships over the medium to long term」
With respect to cross-shareholdings, shares were acquired through contributions to an employee shareholding association for business partners and reinvestment of dividends, increasing the number of shares held in 1 issue. - FY2020AdvancedAnnual report
「The shares had been held to facilitate business relationships over the medium to long term, but after reviewing whether the holdings remained appropriate, the Company sold all of them during the fiscal year.」
Based on its review of the appropriateness of its cross-shareholdings, the Company sold all shares held in Nagoya Bank and Mizuho Financial Group. - FY2019ReframedAnnual report
「The Company's policy on cross-shareholdings is to maintain and expand business relationships over the medium to long term and, by holding such shares, enhance the Company's corporate value. Each year, the Board of Directors conducts a specific review of each cross-shareholding to determine whether it conforms to the Company's basic policy, whether its holding purpose is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding is appropriate. If the holding is found to be unjustified, the Company will reduce it.」
In addition to maintaining and strengthening business relationships as a holding purpose, the Company has specified the expansion of business relationships over the medium to long term, annual reviews of whether holdings remain appropriate, and a policy of reducing holdings where their rationale is not justified. - FY2018First statedAnnual report
「Maintaining and strengthening business relationships」
The Company holds 9 non-investment-purpose shareholdings with a total balance sheet value of ¥793.494 million, disclosing that their purposes are to maintain and strengthen business relationships or facilitate trading relationships.