Reducing cross-held shares and reviewing the rationale for holdings
First written in FY2019. 6 of 7 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「(Issues whose number of shares increased during the fiscal year) Unlisted shares — — —; Listed shares and other shares 1 858 Acquisition of shares through an employee shareholding association for business partners (Issues whose number of shares decreased during the fiscal year) Unlisted shares 1 4,000; Listed shares and other shares 1 3,044」
For strategically held shares, it discloses the acquisition of 1 listed issue through an employee shareholding association for business partners and the sale of 1 unlisted issue and 1 listed issue during the fiscal year. - FY2025AdvancedAnnual report
「(Issues whose number of shares increased during the fiscal year) Unlisted shares — — —; Listed shares and other shares 1 822 Acquisition of shares through an employee shareholding association for business partners (Issues whose number of shares decreased during the fiscal year) Unlisted shares 1 1,000」
For strategically held shares, it discloses the acquisition of 1 listed issue through an employee shareholding association for business partners and the sale of 1 unlisted issue during the fiscal year. - FY2023AdvancedAnnual report
「(Issues whose number of shares increased during the fiscal year) Unlisted shares — — —; Listed shares and other shares 1 758 Acquisition of shares through an employee shareholding association for business partners (Issues whose number of shares decreased during the fiscal year) Unlisted shares 1 1,000」
For strategically held shares, it discloses the acquisition of 1 listed issue through an employee shareholding association for business partners and the sale of 1 unlisted issue during the fiscal year. - FY2022AdvancedAnnual report
「(Issues whose number of shares decreased during the fiscal year) Unlisted shares 1 ¥1,000 thousand」
For strategically held shares, it states that 1 issue of unlisted shares was sold during the fiscal year while the policy of reviewing the rationale for holding such shares continued. - FY2021AdvancedAnnual report
「Acquisition of shares to maintain and strengthen smooth business relationships, including with group companies, and acquisition of shares through an employee shareholding association for business partners」
For strategically held shares, it states not only the policy of reviewing the rationale for holding them, but also that shares of ENEOS Holdings were acquired during the fiscal year and that acquisitions were made through an employee shareholding association for business partners. - FY2020AdvancedAnnual report
「The investment shares we hold for purposes other than pure investment are primarily shares of business partners of the various businesses within our group. We periodically review their acquisition, continued holding and disposal from a medium- to long-term perspective, based on the results of comparing their consistency with our business strategy and the benefits expected over the medium to long term with the cost of capital. The need for such holdings is appropriately reviewed for economic rationality by the directors and audit & supervisory board members, and brought before the Board of Directors as necessary.」
For strategically held shares, it specifies the procedures for decisions on holding and disposal, including comparing consistency with the business strategy and expected benefits against the cost of capital, as well as reviews of economic rationality by the directors and audit & supervisory board members, in addition to the policy of reducing the balance. - FY2019First statedAnnual report
「As a general policy, we do not hold shares for purposes other than pure investment and, where we currently hold such shares, seek to reduce the balance. However, we will hold shares in other companies for purposes other than pure investment where we determine that doing so will contribute to the stable, sustainable improvement of our corporate value over the medium to long term through our business activities.」
For strategically held shares, it explicitly states for the first time the policy of generally not holding such shares and reducing the balance, and how this relates to enhancing corporate value when shares are held as an exception.