Annual Review and Reduction of Cross-Shareholdings
First written in FY2020. 1 of 4 entries say "Restated". Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Issues whose number of shares decreased during the fiscal year | Shares other than unlisted shares | 5 | 535」
For strategic shareholdings, it sold 5 issues other than unlisted shares during the fiscal year, demonstrating a reduction in holdings. - FY2023ReframedAnnual report
「1) In principle, we do not hold strategic shareholdings, except where maintaining and developing strategically important collaborative and business relationships is recognised as contributing to the enhancement of corporate value. 2) For shares held, we periodically verify the rationale for holding them and disclose an overview of the verification conducted annually by the Board of Directors. Shares whose significance as holdings has diminished will be sold progressively, taking into account the circumstances of the companies concerned.」
It sets out a policy of not holding strategic shareholdings in principle, with exceptions for strategic collaboration and business relationships, annual reviews, and the progressive sale of shares whose significance as holdings has diminished. - FY2021RestatedAnnual report
「For these shares, the Board of Directors verifies each year, in specific terms, whether the purpose of holding them remains appropriate and whether the benefits and risks associated with holding them are commensurate with the cost of capital. We disclose the details of this verification and will progressively reduce holdings of shares deemed unsuitable to hold.」
It continues the policy of annually reviewing strategic shareholdings at the Board of Directors, disclosing the details of the review, and reducing holdings deemed inappropriate to retain. - FY2020First statedAnnual report
「For these shares, the Board of Directors verifies each year, in specific terms, whether the purpose of holding them remains appropriate and whether the benefits and risks associated with holding them are commensurate with the cost of capital. We disclose the details of this verification and will progressively reduce holdings of shares deemed unsuitable to hold.」
It newly states that the Board of Directors will review strategic shareholdings annually, compare their benefits and risks with the cost of capital, and reduce holdings of unnecessary issues.