Review of the Rationale for Strategic Shareholdings and Their Sale
First written in FY2019. 2 of 5 entries say "Advanced", first in FY2020. Latest entry: FY2025.
- FY2025Termination of capital alliance, sale of shares and new acquisitionsAnnual report
「In March 2025, the capital alliance with Toto Suisan Co., Ltd. was terminated (the business alliance continues). “Issues for which the number of shares increased during the fiscal year…The number of shares increased because we acquired shares in the relevant counterparty for the purpose of a business and capital alliance.”」
The company terminated its capital alliance with Toto Suisan and sold the shares, while continuing the business alliance. It also acquired shares in Kit Sanriku Factory Co., Ltd. for the purpose of a business and capital alliance. Cross-shareholdings stood at 4 issues. - FY2023RestatedAnnual report
「We held 4 issues at the end of the consolidated fiscal year. Our Board of Directors reviews the appropriateness of holding all shares every fiscal year.」
The company held 4 cross-shareholdings and continued its annual Board of Directors reviews of the rationale for holding them. - FY2021AdvancedAnnual report
「We held 4 issues at the end of the consolidated fiscal year. Our Board of Directors reviews the appropriateness of holding all shares every fiscal year, comprehensively considering the significance of each holding, the benefits obtained from holding the shares and the associated costs. During the consolidated fiscal year, we sold 1 issue whose benefits had been lost because the business relationship with the issuing company had changed.」
The company held 4 cross-shareholdings, continued its annual Board of Directors reviews, and sold 1 issue whose benefits had been lost. - FY2020AdvancedAnnual report
「Our Board of Directors reviews the appropriateness of holding all shares every fiscal year, comprehensively considering the significance of each holding, the benefits obtained from holding the shares and the associated costs. During the consolidated fiscal year, we sold 1 issue whose benefits had been lost because the business relationship with the issuing company had changed.」
The company continues its annual Board of Directors reviews of cross-shareholdings and sold 1 issue because the business relationship had changed. It also newly acquired shares in Toto Suisan for the joint procurement and development of products. - FY2019First statedAnnual report
「We hold shares on an exceptional basis for capital and business alliances with issuing companies, as well as to maintain and strengthen business relationships and facilitate transactions. We held 5 issues at the end of the consolidated fiscal year. Our Board of Directors reviews the appropriateness of holding all shares every fiscal year, comprehensively considering the significance of each holding, the benefits obtained from holding the shares and the associated costs. During the consolidated fiscal year, we sold 1 issue whose benefits had been lost because the business relationship with the issuing company had changed.」
For cross-shareholdings, the company stated for the first time its policy of reviewing the purpose of each holding and its benefits and costs at the Board of Directors meeting every fiscal year, and sold 1 issue because the business relationship had changed.