Cross-Shareholdings Held to Strengthen and Maintain Business Relationships
First written in FY2018. 3 of 6 entries say "Advanced", first in FY2020. Latest entry: FY2025.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- FY2025Streamlining the shareholdings through the sale of shares held for pure investment purposesAnnual report
「In addition, the sale of investment securities resulted in a ¥136 million extraordinary gain, and」
The company sold investment securities and recorded a ¥136 million extraordinary gain. Its holdings no longer include listed shares held for pure investment purposes, while specified investment shares comprise 3 issues valued at ¥616 million. - FY2023ReframedAnnual report
「We hold cross-shareholdings when, after thorough deliberation and review by the Board of Directors, we determine that they will contribute to enhancing corporate value over the medium to long term, taking into consideration factors such as establishing stable, long-term business relationships with business partners and business necessity.」
The company explicitly identifies business relationships, business necessity, deliberation by the Board of Directors and contribution to enhancing corporate value as criteria for holding cross-shareholdings. The shares of The Ogaki Kyoritsu Bank,Ltd. and Juroku Financial Group,Inc. were reclassified as being held for pure investment purposes. - FY2022ReframedAnnual report
「The Board of Directors resolved at its meeting held on 14 October 2022 to reclassify the shares of The Ogaki Kyoritsu Bank,Ltd. and Juroku Financial Group,Inc. as investment securities held for pure investment purposes.」
For cross-shareholdings, a policy was presented to reclassify the shares of the 2 banks from securities held to strengthen business relationships to securities held for pure investment purposes. - FY2021AdvancedAnnual report
「For individual cross-shareholdings, we reassess the significance of the holdings in light of changes in the business environment and scrutinize whether the benefits and risks associated with the holdings are commensurate with the cost of capital. The Board of Directors verifies and determines the appropriateness of each holding annually.」
For cross-shareholdings, the Group continues its annual Board of Directors reviews and comparison with the cost of capital. During the current fiscal year, the number of shares held in 2 companies decreased. - FY2020AdvancedAnnual report
「For individual cross-shareholdings, we reassess the significance of the holdings in light of changes in the business environment and scrutinize whether the benefits and risks associated with the holdings are commensurate with the cost of capital. The Board of Directors verifies and determines the appropriateness of each holding annually. As a result, although part of the dividends from 2 holdings had been reinvested, we decided to stop purchasing shares with dividend proceeds.」
For cross-shareholdings, the Group explicitly describes annual Board of Directors reviews, including comparison with the cost of capital, and has stopped reinvesting dividends from 2 holdings. - FY2018First statedAnnual report
「Strategic investment shares: The Ogaki Kyoritsu Bank,Ltd., 株式会社電算システム, 株式会社十六銀行, TOKAI Corp., 株式会社愛知銀行, 株式会社デサント, 三井住友トラスト・ホールディングス株式会社, 株式会社名古屋銀行. Purpose of holding: to strengthen and maintain business relationships」
The filing describes for the first time the policy and practice of holding strategic investment shares in 8 companies, with a total balance-sheet carrying amount of ¥1,273 million, to strengthen and maintain business relationships.