Reviewing the Rationale for Cross-Shareholdings and the Policy on Sales
First written in FY2019. 3 of 5 entries say "Advanced", first in FY2023. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Chugai Ro Co.,Ltd. — 2,000 (purpose of holding) Strengthening business relationships (quantitative holding benefit) The shares do not meet the company's standards for cross-held shares, and sales are being made in stages. (reason for decrease) All shares sold during the fiscal year」
All 2,000 shares of Chugai Ro Co.,Ltd. that did not meet the company's standards for cross-held shares were sold during the year. Cross-held shares are reviewed each fiscal year based on dividend yields, business transaction volume and other factors. - FY2025AdvancedAnnual report
「All shares sold during the fiscal year」
All shares of the 3 holdings—Kyushu Financial Group, Mitsubishi UFJ Financial Group and Kawasaki Heavy Industries—that did not meet the company's standards for cross-held shares were sold during the fiscal year. - FY2024AchievedAnnual report
「Sanix Co., Ltd. — 44,750 (purpose of holding) Strengthening business relationships (quantitative holding benefit) The shares do not meet the company's standards for cross-held shares, and sales are being made in stages. (reason for decrease) All shares sold during the fiscal year」
All shares of Sanix that were deemed not to meet the company's standards for cross-held shares were sold during the fiscal year. - FY2023AdvancedAnnual report
「Regarding cross-held shares, the company generally sells them when their significance or rationale for holding them is not recognized, after taking into account various factors, including the potential impact on the market.」
The policy of reviewing and selling cross-held shares continued, and the company also disclosed specific action regarding its Sanix shares, stating that it was proceeding with sales in stages because the shares did not meet its standards for cross-held shares. - FY2019First statedAnnual report
「As a basic policy, the company does not generally hold shares for purposes other than pure investment unless there is a reasonable purpose for holding them, such as business alliances, maintaining or strengthening business relationships, or stabilizing the value of the shares held. Each fiscal year, the company verifies the dividend yield and business transaction status of each holding. As a yield standard, it generally sells holdings whose expected yield is less than twice the company's financing cost, while taking into account the importance of business transactions. Annual transaction volume of ¥50 million is used as a guideline for assessing the importance of business transactions.」
The company separately disclosed for the first time its policy of reviewing and selling cross-held shares based on the rationality of their holding purpose, yields benchmarked against financing costs, and annual transaction volume of ¥50 million as a guideline.