Review, Disposal and Reduction of Cross-Shareholdings
First written in FY2019. 8 of 9 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Holdings with a decrease in the number of shares during the fiscal year: Unlisted shares, 1 holding, ¥2.640 million; shares other than unlisted shares, 1 holding, ¥418.363 million」
Under its policy of reviewing the rationale for and reducing cross-shareholdings, the Company sold 1 unlisted holding and 1 listed holding, with sale proceeds from the listed holding of ¥418.363 million. Meanwhile, the number of holdings other than unlisted shares was 80. - 2026-05-08AdvancedRevision of earnings forecasts
「Owing to a large one-off demand in the highly profitable IPS-related business and gains on the sale of cross-held shares」
Gains on the sale of cross-held shares were recorded, reflecting the results of the policy to reduce cross-held equity investments in profit. - FY2025AdvancedAnnual report
「Shares other than unlisted shares: 80 holdings, ¥4,147.617 million Holdings with a decrease in the number of shares during the fiscal year: Shares other than unlisted shares, 2 holdings, ¥2.020 million」
For cross-shareholdings, the number of holdings other than unlisted shares decreased from 81 in the previous fiscal year to 80, and the Company sold 2 holdings during the fiscal year. The review of the rationale for ownership and implementation of the reduction policy continue. - FY2024AdvancedAnnual report
「Specifically, shares for which the ratio of dividends plus gross profit from annual transactions with the Company to the initial investment amount has fallen below the Company's ROE for 2 consecutive fiscal periods are subject to consideration for reduction. Shares determined by the Board of Directors not to have a rational basis for ownership following its review will be sold while considering the impact on the market.」
While continuing to apply its review and reduction criteria for cross-shareholdings, the Company reduced 3 holdings other than unlisted shares. The number of holdings decreased from 86 in the previous fiscal year to 81, and implementation of the reduction policy continues. - FY2023AdvancedAnnual report
「Holdings with a decrease in the number of shares during the fiscal year Shares other than unlisted shares: 5 holdings, ¥2.199 million」
For cross-shareholdings, the number of holdings other than unlisted shares decreased from 86 in the previous fiscal year to 83, and the Company sold 5 holdings during the fiscal year. The review of the rationale for ownership and implementation of the reduction policy continue. - FY2022AdvancedAnnual report
「Number of holdings and amount recognised on the balance sheet Unlisted shares: 13 holdings, ¥53.833 million Shares other than unlisted shares: 86 holdings, ¥3,401.132 million Holdings with a decrease in the number of shares during the fiscal year Shares other than unlisted shares: 2 holdings, ¥8.699 million」
While continuing to apply its review criteria for cross-shareholdings, the Company sold 2 holdings other than unlisted shares, recording total sale proceeds of ¥8.699 million. In addition, multiple holdings are subject to Board review as candidates for reduction. - FY2021AdvancedAnnual report
「Specifically, shares for which the ratio of dividends plus gross profit from annual transactions with the Company to the initial investment amount has fallen below the Company's ROE for 2 consecutive fiscal periods are subject to consideration for reduction. Shares determined by the Board of Directors not to have a rational basis for ownership following its review will be sold while considering the impact on the market.」
A specific criterion for reviewing cross-shareholdings for reduction was disclosed: holdings for which dividends plus gross profit as a percentage of the initial investment amount fall below ROE for 2 consecutive fiscal periods are subject to consideration for reduction. The Company reduced 6 holdings other than unlisted shares, with total sale proceeds of ¥56.701 million. - FY2020AdvancedAnnual report
「Each year, we verify the rationale for holding each share, including the shares held, the number of shares and the ownership ratio, through review by the Board of Directors. The rationale for each holding is assessed comprehensively by the relevant administrative departments in accordance with our holding policy, taking into account the purpose of ownership, the impact and profitability associated with holding the shares, the cost of capital and other factors. Shares determined through this review not to have a rational basis for ownership are sold while considering the impact on the market, with holdings reduced year by year.」
The Company conducts an annual review of its cross-shareholdings by the Board of Directors and reports that it reduced 2 holdings other than unlisted shares during the fiscal year, with total sale proceeds of ¥54.712 million. - FY2019First statedAnnual report
「For each cross-shareholding, the Board of Directors reviews annually whether continued ownership is appropriate, reasonable and necessary, considering factors including consistency with the purpose of ownership, profitability and its relationship to the Company's cost of capital. Under our basic policy, shares deemed to have no holding significance will be disposed of or reduced as promptly as possible, with sales conducted while considering the impact on the market and other factors.」
For cross-shareholdings, the Company states for the first time as a separate disclosure item its policy of reviewing each year at the Board of Directors the significance and profitability of holdings and their relationship to the cost of capital, and disposing of or reducing holdings deemed to have no significance.