Testing the rationale for and reducing cross-shareholdings
First written in FY2019. 1 of 8 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026Update to holdings and sale resultsAnnual report
「Stocks whose number of shares decreased during the fiscal year: unlisted stocks 1 1; stocks other than unlisted stocks 2 153」
During the fiscal year, the Company reduced 1 unlisted stock and 2 listed stocks among its cross-shareholdings, for total sales proceeds of ¥153 million. The Company continues its policy of reviewing the rationale for its holdings once a year and reducing them where appropriate. - FY2025Update to the number of stocks reviewed, stocks targeted for reduction, and sales resultsAnnual report
「The Company's Board of Directors determined in April 2025 that holding 5 of the 30 stocks was not reasonable and adopted a policy of reducing those holdings.」
The number of cross-shareholdings reviewed decreased from 31 in the previous fiscal year to 30, while the number targeted for reduction was updated from 1 to 5. During the fiscal year, 1 stock was sold for ¥419 million. - FY2024Update to the number of stocks reviewed, stocks targeted for reduction, and sales resultsAnnual report
「The Company's Board of Directors determined in April 2024 that holding 1 of the 31 stocks was not reasonable and adopted a policy of reducing that holding.」
The number of cross-shareholdings reviewed decreased from 34 to 31, and 1 stock was identified for reduction. Sales of shares in Mizuho Financial Group, Yamaguchi Financial Group, Yakiniku Sakai Holdings and others are also reported. - FY2023Update to the number of issues reviewed and designated for reductionAnnual report
「The Company's Board of Directors determined in April 2023 that holding 3 of the 34 stocks was not reasonable and adopted a policy of reducing those holdings.」
The results of the review of cross-shareholdings were updated to identify 3 of the 34 stocks for reduction. - FY2022Update to the number of issues reviewed and designated for reductionAnnual report
「The Company's Board of Directors determined in April 2022 that holding 4 of the 35 stocks was not reasonable and adopted a policy of reducing those holdings.」
The results of the review of cross-shareholdings were updated to identify 4 of the 35 stocks for reduction. - FY2021Update to the number of issues reviewed and designated for reductionAnnual report
「At a Board of Directors meeting in April 2021, we determined that the rationale for holding 1 of 36 issues was no longer recognized and adopted a policy of reducing that holding.」
The results of the review of cross-shareholdings were updated to designate 1 of 36 issues for reduction. - FY2020AdvancedAnnual report
「We will reduce holdings that are determined, following review, no longer to have a rational basis, while taking into account the impact on the market and other business considerations. In the fiscal year ended March 2020, we sold 1 issue. Since the fiscal year ended March 2018, we have sold holdings in 5 issues with an acquisition cost of ¥17 million.」
For cross-shareholdings, 1 issue was sold in the fiscal year ended March 2020, updating the sales results since the fiscal year ended March 2018 to 5 issues with an acquisition cost of ¥17 million. - FY2019First statedAnnual report
「As part of our management strategy, we hold shares in other companies only when we determine that strengthening intercompany relationships, including through business alliances, funding and stable procurement of raw materials, will contribute to our sustainable growth and the improvement of corporate value over the medium to long term. For each such holding, the responsible director monitors the status of transactions with the investee once a year, and the Board of Directors deliberates on the significance of acquiring and holding the shares and whether the holding is commensurate with the cost of capital, based on the results, before determining whether the holding is appropriate. At a Board of Directors meeting in April 2019, we determined that the rationale for holding 2 of 39 issues was no longer recognized and adopted a policy of reducing those holdings.」
For cross-shareholdings, the significance of business relationships and other factors is reviewed annually against the cost of capital, and 2 of 39 issues were designated for reduction in April 2019.