Reviewing the Rationale for Strategic Shareholdings and Holding Only the Minimum Necessary
First written in FY2020. 1 of 3 entries say "Restated". Latest entry: FY2023.
- FY2023AdvancedAnnual report
「Issues for which the number of shares decreased during the fiscal year: shares other than unlisted shares: 1; 17. The shares had been held because the investee was a customer for food-packaging wrapping film, but all shares were sold during the fiscal year.」
As a specific sale based on the review of the rationale for policy-held shares, all shares of 中央化学 were sold for ¥17 million. - FY2022RestatedAnnual report
「The Company may hold the minimum necessary number of investment shares when they are important to its business strategy and deemed to contribute to the enhancement of corporate value over the medium to long term. Once a year, the Board of Directors verifies the economic rationale for holding these shares, taking into account the significance and risks of the holdings and the cost of capital.」
The Company continues to have the Board of Directors verify once a year the rationale for holding the minimum necessary number of policy-held shares for the purpose of maintaining and strengthening business relationships. - FY2020First statedAnnual report
「The Company may hold the minimum necessary investment securities when they are important to its business strategy and deemed to contribute to improving corporate value over the medium to long term. Once a year, the Board of Directors verifies the economic rationality of the holdings, taking into account their significance and risks, as well as the cost of capital. During the current fiscal year, the Company sold part of its holdings in securities for which the continued rationality of holding them was no longer recognized.」
The Company disclosed for the first time its policy of holding the minimum necessary shares to maintain and strengthen business relationships, rather than for pure investment purposes, and reviewing their rationality once a year at a Board of Directors meeting.