Cross-shareholdings held to maintain business relationships
First written in FY2018. 4 of 8 entries say "Advanced", first in FY2022. Latest entry: FY2026.
The whole theme swung hardest in 2019: 18 of 141 companies on the "Worse" side.
- FY2026AdvancedAnnual report
「The company sold all of 1 held security. As a result, the number of holdings other than unlisted shares as of the end of March 2026 decreased by 1 security from the end of March 2025. The company will continue reducing its cross-shareholdings, taking market conditions, business strategy and other factors into account, to improve capital efficiency.」
The company sold all of 1 cross-shareholding, reducing the number of holdings other than unlisted shares by 1 security from the end of the previous fiscal year. Its policy of continuing to reduce such holdings remains in place. - FY2024AdvancedAnnual report
「As a result, the number of holdings other than unlisted shares as of the end of March 2024 decreased by 1 security from the end of March 2023. The company will continue reducing its cross-shareholdings, taking market conditions, business strategy and other factors into account, to improve capital efficiency.」
The company disclosed a reduction of 1 cross-shareholding, excluding unlisted shares, from the end of the previous fiscal year, involving a security sold for ¥3,539 million. It also specified its policy of continuing to reduce such holdings. - FY2024-Q3AdvancedAnnual report
「At a Board of Directors meeting held on 14 February 2024, the company resolved to sell part of its investment securities. …To improve asset efficiency by reviewing its holdings… one listed security held by the company… gain on sale: approximately ¥2,300 million (expected)」
As part of its review of held shares, including cross-shareholdings, the company resolved to sell 1 listed security and expects a gain on sale of approximately ¥2.3 billion to improve asset efficiency. - FY2023RestatedAnnual report
「The shares held by the company for purposes other than pure investment are held to maintain and develop good relationships with business partners and for other purposes. The basic criterion for decisions regarding investment in these shares is whether they contribute to enhancing the company's medium- to long-term corporate value and strengthening a stable foundation. Every year, the Board of Directors verifies the consistency of continued holdings with the policy and holding purposes, as well as their economic rationality, including a comparison of related returns with the cost of capital associated with holding the shares, and reviews whether to continue holding them and the number of shares held based on the results.」
The company continues its policy of having the Board of Directors annually verify the economic rationality of cross-shareholdings and review whether to continue holding them and the number of shares held. - FY2022AdvancedAnnual report
「The company sold part of its holdings during the fiscal year ended March 2022. At a Board of Directors meeting held on 28 June 2022, it verified the consistency of each holding with its purpose and its economic rationality. As a result, it determined that all holdings contributed to enhancing corporate value and strengthening a stable foundation, and decided to continue holding them.」
The company sold part of its cross-shareholdings, disclosing a reduction of 2 unlisted securities and 1 listed security. At the same time, it decided to continue holding each security following its review. - FY2020SoftenedAnnual report
「At a Board of Directors meeting held on 25 June 2020, the company verified the consistency of each holding with its purpose and its economic rationality. As a result, it determined that all holdings contributed to enhancing corporate value and strengthening a stable foundation, and decided to continue holding them.」
While the number of cross-shareholdings decreased from 35 to 32 and their carrying amount decreased from ¥3,905 million to ¥2,651 million, the company determined after its review that all would continue to be held. - FY2019RestatedAnnual report
「The shares held by the company for purposes other than pure investment are held to maintain and develop good relationships with business partners and to stabilize retirement benefits for employees. The basic criterion for decisions regarding investment in these shares is whether they contribute to enhancing the company's medium- to long-term corporate value and strengthening a stable foundation. Every year, the Board of Directors verifies the consistency of continued holdings with the policy and holding purposes, as well as their economic rationality, including a comparison of related returns with the cost of capital associated with holding the shares, and reviews whether to continue holding them and the number of shares held based on the results.」
For cross-shareholdings held to maintain and develop business relationships and for other purposes, the company discloses a policy of having the Board of Directors verify the rationale for each holding annually. At the end of the period, it held 12 unlisted securities with a carrying amount of ¥453 million and 22 listed securities with a carrying amount of ¥3,198 million. - FY2018First statedAnnual report
「Number of securities 35 securities Total carrying amount on the balance sheet 3,905 million yen」
The company disclosed 35 cross-shareholdings with a total carrying amount on the balance sheet of ¥3,905 million, held for purposes other than pure investment.