Reviewing the Rationale for Cross-Shareholdings and the Policy of Reducing Them
First written in FY2019. 2 of 3 entries say "Advanced", first in FY2020. Latest entry: FY2023.
- FY2023AdvancedAnnual report
「Shares other than unlisted shares 1 18,284」
The company sold 1 issue of policy-held shares during the fiscal year and recognized proceeds of ¥18,284 thousand. The number of shares held in Makita Corporation also decreased, showing a specific change in the number of shares held in line with the policy of verifying the significance of holdings and reducing them where appropriate. - FY2020AdvancedAnnual report
「Makita Corporation 20,136 23,104 The purpose of the holding is to strengthen business relationships. The quantitative benefits of the holding are not disclosed for confidentiality reasons.」
The company disclosed an issue for which the number of policy-held shares decreased from 23,104 shares in the previous fiscal year to 20,136 shares. This is described as a specific change in the number of shares held under the policy of verifying the significance of holdings and reducing them where appropriate. - FY2019First statedAnnual report
「With respect to investment shares held for purposes other than pure investment, our policy is not to hold such shares unless their strategic significance is recognized, in light of changes in the environment surrounding the Corporate Governance Code and the possibility that share price volatility risk could have a significant impact on our financial condition. The Board of Directors also verifies each issue from both quantitative perspectives, including whether the benefits of holding it are commensurate with the cost of capital, and qualitative perspectives, including the significance of holding it. We will promptly reduce holdings that are determined no longer to serve their intended purpose.」
The company has provided specific disclosure for the first time regarding its policy of not holding policy-held shares unless they have strategic significance, its quantitative and qualitative evaluation including comparison with the cost of capital, and its policy of reducing holdings whose purpose has been lost.