Review of the Rationale for Holding Cross-Shareholdings and Their Sale
First written in FY2019. 6 of 11 entries say "Advanced", first in FY2020. Latest entry: FY2026.
- FY2026WorsenedAnnual report
「The number of listed shareholdings increased by 1 from the end of the previous fiscal year to 19 as a result of the listing of an unlisted shareholding held previously. … The total balance sheet amount of cross-shareholdings was 8.5% of total equity (6.8% at the end of the previous fiscal year).」
Although the reduction policy remains in place, the number of listed holdings increased to 19 and the ratio of cross-shareholdings to total equity rose from 6.8% to 8.5% due to the acquisition of listed and unlisted shares and other factors. - 2026-05-26WorsenedGeneral Meeting of Shareholders
「The total amount of cross-shareholdings on the balance sheet was equivalent to 8.5% of total equity (6.8% at the end of the previous fiscal year). Although the number of listed stocks held increased at the end of fiscal 2025, there has been no change to our policy of reducing cross-shareholdings, and we will continue selling holdings whose significance has diminished.」
Although the ratio of cross-shareholdings increased from 6.8% to 8.5%, the Company indicated that its reduction policy remains in place. - FY2025AdvancedAnnual report
「As a result, the number of holdings decreased by 1 from the end of the previous fiscal year to 18. The total balance sheet amount of cross-shareholdings was 6.8% of total equity (7.6% at the end of the previous fiscal year), and the company will continue selling holdings whose significance has diminished.」
Cross-shareholdings decreased from 19 to 18 holdings, and their ratio to total equity declined from 7.6% to 6.8%. - FY2024AdvancedAnnual report
「As a result, the number of holdings decreased by 3 from the end of the previous fiscal year to 19. The total balance sheet amount of cross-shareholdings declined to 7.6% of total equity (12.3% at the end of the previous fiscal year).」
Cross-shareholdings were reduced to 19 holdings, and their ratio to total equity declined from 12.3% to 7.6%. - FY2023AdvancedAnnual report
「As a result, the number of holdings decreased by 2 from the end of the previous fiscal year to 22. The company continues to target a reduction of the total balance sheet amount of cross-shareholdings to less than 10% of total equity.」
Cross-shareholdings decreased by 2 from the end of the previous fiscal year to 22 holdings. The target of reducing them to less than 10% of total equity remains in place. - FY2022AdvancedAnnual report
「As a result, the total balance sheet amount of listed shares at the end of March 2022 increased from the end of the previous fiscal year due to increases in the market value of some holdings, but the number of holdings decreased by 3 from the end of the previous fiscal year to 24. The company aims to reduce the total balance sheet amount of cross-shareholdings to less than 10% of total equity.」
Cross-shareholdings decreased by 3 to 24 holdings, and the company set a target of reducing their balance sheet amount to less than 10% of total equity. - FY2021AdvancedAnnual report
「The board of directors reviewed the holdings as of the end of March 2021 at its meeting held in June 2021. The results were as follows. • The company reviewed the sustainability of the purpose of each holding and its consistency with the business strategy from a medium- to long-term perspective, and identified holdings for which the significance had diminished and that it would sell. • In addition, after reviewing profits from related transactions and other factors while taking the cost of capital into account, the company confirmed that holdings other than those designated for sale had an economically rational basis for continued ownership.」
At its June 2021 meeting, the board of directors reviewed cross-shareholdings based on their purpose, consistency with business strategy and the cost of capital, and identified holdings for sale. - FY2021-Q2RestatedAnnual report
「The company also continued during the fiscal year to sell part of its holdings following a review of their significance.」
The company continued during the fiscal year to sell part of its cross-shareholdings after reviewing their significance. - FY2020AdvancedAnnual report
「The board of directors reviewed the holdings as of the end of March 2020 at its meeting held in June 2020. The results were as follows. • The company reviewed the sustainability of the purpose of each holding and its consistency with the business strategy from a medium- to long-term perspective, and identified holdings for which the significance had diminished and that it would sell.」
At its June 2020 meeting, the board of directors reviewed individual cross-shareholdings and adopted a policy of selling holdings whose significance had diminished. - FY2020-Q2RestatedAnnual report
「The company continued during the fiscal year to sell some of its holdings following a review of the significance of those holdings.」
The company continued during the fiscal year to sell part of its cross-shareholdings based on a review of their significance. - FY2019First statedAnnual report
「After acquiring listed shares, the board of directors verifies each holding annually from the perspectives of its purpose, business strategy and profits from related transactions, among other factors, to determine whether it remains appropriate to hold. Based on the results, the company is proceeding with the sale of holdings judged to have little economic rationale.」
The board of directors reviewed listed shareholdings individually each year, adopted a policy of selling holdings whose significance had diminished as of the end of March 2019, and stated that it sold 11 holdings during the fiscal year.