Limited Holdings of Strategic Shareholdings, Verification of Rationale, and Reduction
First written in FY2019. 9 of 10 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「We report to the Board of Directors once a year on whether to continue holding the shares and on the results of the review of our holdings, and reduce holdings that no longer have a rationale for continued ownership. The number of holdings was 237, their total carrying amount on the balance sheet was ¥124.0 billion, and they represented 3.8% of total consolidated equity.」
Cross-shareholdings declined from 263 holdings in the previous fiscal year to 237, and their ratio to consolidated equity fell from 10.9% to 3.8%. Sales of shares in Toyota Industries Corporation and other companies have also been completed. - FY2025AdvancedAnnual report
「In the fiscal year ended March 2025, we reduced 50 holdings, excluding 9 holdings in which partial sales or other transactions were conducted. The total carrying amount on the balance sheet of these holdings in the fiscal year ended March 2024 was ¥69.0 billion.」
The number of cross-shareholdings was reduced from 310 to 263, and 50 holdings were reduced. In addition, the company stated its policy of tendering 15,294,053 shares of Toyota Industries Corporation in the tender offer. - FY2024AdvancedAnnual report
「We report to the Board of Directors once a year on whether to continue holding the shares and on the results of the review of our holdings, and reduce holdings that no longer have a rationale for continued ownership. In the fiscal year ended March 2024, we reduced 59 holdings, excluding 9 holdings in which partial sales or other transactions were conducted.」
The number of cross-shareholdings declined from 364 in the previous fiscal year to 310, and 59 holdings were reduced in the fiscal year ended March 2024. - FY2023AdvancedAnnual report
「We report to the Board of Directors once a year on whether to continue holding the shares and on the results of the review of our holdings, and reduce holdings that no longer have a rationale for continued ownership. The number of holdings was 364, their total carrying amount on the balance sheet was ¥330.7 billion, and they represented 16.0% of total consolidated equity.」
The number of cross-shareholdings declined from 394 in the previous fiscal year to 364, and the company continued reducing holdings that no longer had a rationale for continued ownership. - FY2021AdvancedAnnual report
「As necessary, we engage in constructive dialogue with the companies whose shares we hold from the perspective of maintaining and enhancing corporate value and promoting sustainable growth, sharing management issues and helping improve identified problems. We report to the Board of Directors once a year on whether to continue holding the shares and on the results of the review of our holdings. We will reduce holdings that no longer have a rationale for continued ownership.」
Regarding cross-shareholdings, the company conducted a rationale review, including constructive dialogue, and reported to the Board of Directors that some holdings that no longer had a rationale for continued ownership would be sold based on the review as of 31 March 2021. - FY2020AdvancedAnnual report
「We report to the Board of Directors once a year on whether to continue holding the shares and on the results of the review of our holdings. We will reduce holdings that no longer have a rationale for continued ownership.」
The company specified its policy of reporting to the Board of Directors once a year on cross-shareholdings and reducing holdings that no longer have a rationale for continued ownership. It reported that some shares would be sold based on the review as of 31 March 2020. - FY2019First statedAnnual report
「Maintaining and strengthening business and collaborative relationships with various companies is necessary for the sustainable enhancement of our corporate value. We therefore hold, on a limited and strategic basis, listed shares that we determine from a medium- to long-term perspective to be beneficial and important as holdings in key business and collaborative partners. In making this determination, we comprehensively consider profitability using our proprietary indicators based on the cost of capital, business relationships with the relevant companies and other factors, and review whether to continue holding the shares and the number of shares held.」
The company disclosed, for the first time as a separate topic, its policy of maintaining limited and strategic cross-shareholdings and validating whether continued holdings and the number of shares held are justified based on indicators using the cost of capital and business relationships.