Shareholdings for the Purpose of Maintaining and Strengthening Business and Alliance Relationships
First written in FY2018. 5 of 7 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- FY2026RestatedAnnual report
「In addition, each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding should be maintained.」
It continues its policy of annually reviewing cross-shareholdings by security, including the purpose of holding them, their benefits and risks, and their relationship with the cost of capital. - FY2025RestatedAnnual report
「In addition, each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding should be maintained.」
It continues its policy of annually reviewing cross-shareholdings by security, including the purpose of holding them, their benefits and risks, and their relationship with the cost of capital. - FY2022RestatedAnnual report
「In addition, each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding should be maintained.」
It continues its policy of annually reviewing cross-shareholdings by security, including the purpose of holding them, their benefits and risks, and their relationship with the cost of capital. - FY2021RestatedAnnual report
「Each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding should be maintained.」
It continues its policy of conducting an annual review of cross-shareholdings, comparing the benefits and risks with the cost of capital for each security. - FY2020RestatedAnnual report
「Each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital.」
It continues to state its policy of conducting an annual review of cross-shareholdings, comparing the benefits and risks with the cost of capital for each security. - FY2019AdvancedAnnual report
「Each year, the Board of Directors conducts a detailed review for each security to determine whether the purpose of holding it is appropriate, whether the shareholding itself is appropriate, and whether the benefits and risks associated with holding it are commensurate with the cost of capital, and verifies whether the holding should be maintained.」
For cross-shareholdings held to maintain business and partnership relationships, it explicitly sets out an annual review process comparing the benefits and risks with the cost of capital for each security. - FY2018First statedAnnual report
「Sumitomo Mitsui Financial Group, Inc. "Held to strengthen the business relationship"; CHIMNEY CO.,LTD. "Held to maintain and strengthen the business partnership"; Yamaya Corporation "Held to maintain and strengthen the business partnership"」
For shares in several financial institutions and business partners, the stated purpose of holding them is to maintain or strengthen business or commercial relationships.