Facilitating and Maintaining the Stability of Business Relationships through Strategic Shareholdings
First written in FY2018. 5 of 11 entries say "Advanced", first in FY2021. Latest entry: FY2026.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- FY2026AchievedAnnual report
「Through this trust, the company acquired 1,000,000 of its own shares for ¥2,318,000 thousand and completed the market sale of all 1,000,000 shares by the end of the current consolidated fiscal year.」
The acquisition and market sale of all shares held by the major shareholder through the share supply-and-demand buffer trust have been completed, bringing the specific measure for reducing cross-shareholdings to a conclusion. - FY2026-H1AdvancedAnnual report
「Through this trust, the company acquired 1,000,000 of its own shares for ¥2,318,000 thousand, then sold 784,200 shares in the market by the end of the current interim consolidated accounting period, reducing treasury shares by ¥1,817,775 thousand. Of this amount, 208,700 shares were sold in the market during the current interim consolidated accounting period, reducing treasury shares by ¥483,766 thousand.」
Market sales through the share supply-and-demand buffer trust have progressed, and the company continues to reduce cross-shareholdings in the implementation stage. - FY2025AdvancedAnnual report
「The basic policy is to dispose of or reduce shares whose holding significance is considered limited as promptly as possible. The company reports this to the Board of Directors at least once a year and proceeds with sales as appropriate.」
For cross-shareholdings, the company specifies that it reports to the Board of Directors at least once a year and sells shares as appropriate, and sold 2 issues during the fiscal year. - FY2025-H1AdvancedAnnual report
「Through this trust, the company acquired 1,000,000 of its own shares for ¥2,318,000 thousand in the previous consolidated fiscal year, then sold 322,700 shares in the market by the end of the current interim consolidated accounting period, reducing treasury shares by ¥748,018 thousand.」
Market sales of shares acquired from a major shareholder have progressed through the share supply-and-demand buffer trust, and the mechanism for reducing cross-shareholdings has moved into the implementation stage. - FY2024-Q3AdvancedAnnual report
「The company can achieve an orderly reduction of cross-shareholdings by acquiring, through the Tokyo Stock Exchange’s off-auction closing-price transaction (ToSTNeT-2), the company’s shares held by the operating company that is one of the company’s major shareholders.」
The company states that it introduced a mechanism under which a share supply-and-demand buffer trust acquires shares through ToSTNeT-2 to reduce the cross-shareholding of an operating company that is a major shareholder. - FY2023RestatedAnnual report
「Following its review as of 31 March 2023, the company confirmed that all shares held and the number of shares held were consistent with the purposes of holding them.」
The company continues its annual reviews of cross-shareholdings and decisions on continued holding, reduction or sale, and confirmed based on its review as of 31 March 2023 that the holdings were consistent with their purposes. - FY2022RestatedAnnual report
「Each fiscal year, after thoroughly confirming the nature and status of transactions involving the shares held and the number of shares held, the company verifies whether any holdings no longer accord with the original purpose of acquisition, determines and implements a policy of continued holding, reduction or sale. Following its review as of 31 March 2022, the company confirmed that all shares held and the number of shares held were consistent with the purposes of holding them.」
The company continues to review its cross-shareholdings each fiscal year and decide whether to continue holding, reduce or sell them, and states that its review as of 31 March 2022 confirmed that the holdings were consistent with their purposes. - FY2021AdvancedAnnual report
「Each fiscal year, after thoroughly confirming the nature and status of transactions involving the shares held and the number of shares held, the company verifies whether any holdings no longer accord with the original purpose of acquisition, determines and implements a policy of continued holding, reduction or sale. Following its review as of 31 March 2021, the company confirmed that all shares held and the number of shares held were consistent with the purposes of holding them.」
The company states that it reviews its cross-shareholdings and determines and implements a policy each fiscal year, and that, based on its review as of 31 March 2021, it confirmed that the holdings were consistent with their purposes. - FY2020RestatedAnnual report
「Shares held for purposes other than pure investment are held after considering the rationality of the holding purpose, including maintaining and strengthening business relationships and stabilising the shareholding base. Many of the issuers are important business partners with whom the company conducts transactions on reasonable terms and that make significant contributions to earnings. Decisions on whether to acquire additional shares or dispose of shares are made under the company’s settlement authority, and holdings are reviewed from the perspective of whether they are necessary for the company’s growth and the enhancement of corporate value over the medium to long term. The basic policy is to dispose of or reduce holdings in shares whose significance is considered limited as promptly as possible.」
The company continues its policy of holding cross-shareholdings to maintain and strengthen business relationships, reviewing whether they are necessary to enhance corporate value, and disposing of or reducing shares whose significance is limited. - FY2019ReframedAnnual report
「Shares held for purposes other than pure investment are held after considering the rationality of the holding purpose, including maintaining and strengthening business relationships and stabilising the shareholding base. Many of the issuers are important business partners with whom the company conducts transactions on reasonable terms and that make significant contributions to earnings. Decisions on whether to acquire additional shares or dispose of shares are made under the company’s settlement authority, and holdings are reviewed from the perspective of whether they are necessary for the company’s growth and the enhancement of corporate value over the medium to long term. The basic policy is to dispose of or reduce holdings in shares whose significance is considered limited as promptly as possible.」
For cross-shareholdings, the company has stated a policy of reviewing whether holdings are necessary for enhancing corporate value while seeking to maintain and strengthen business relationships, and disposing of or reducing shares whose significance is limited. The holdings comprise 7 unlisted issues and 25 listed issues, with a total carrying amount of ¥4,713 million. - FY2018First statedAnnual report
「Of the investment shares, 32 issues are held for purposes other than pure investment, with a total carrying amount on the balance sheet of ¥5,221,763 thousand. The purpose of holding them is stated as “facilitating and maintaining stability in business relationships.”」
The company states its policy of holding shares for purposes other than pure investment to facilitate and maintain stability in business relationships, together with the number of issues and carrying amount.