Reviewing the Rationale for Cross-Shareholdings and Reducing Them
First written in FY2019. 4 of 8 entries say "Advanced", first in FY2020. Latest entry: 2026-06-25.
- 2026-06-25RestatedGovernance
「For FY2025, the Board of Directors reviewed the appropriateness of holding all shares owned by the Company, including unlisted shares, on 24 December 2025, as follows.」
The policy of having the Board of Directors review the economic rationality of all policy-held shares is reiterated. - FY2026RestatedAnnual report
「During the fiscal year, all shares in 2 issues were sold and part of the holdings in 3 issues was sold.」
For cross-shareholdings, the Board of Directors verified their economic rationale and continued selling or reducing holdings in issues for which no rationale was recognized. - FY2025AdvancedAnnual report
「During the fiscal year, all shares in 7 issues were sold, among other transactions.」
As a result of the Board of Directors' verification of the economic rationale of cross-shareholdings, all shares in 7 issues were sold, among other transactions. The number of issues subject to sale increased from 2 in the previous fiscal year. - FY2024RestatedAnnual report
「During the fiscal year, all shares in 2 issues were sold, among other transactions.」
For cross-shareholdings, the Board of Directors verified their economic rationale and continued reducing holdings in issues for which no rationale was recognized. - FY2023AdvancedAnnual report
「Based on an overall assessment, we sold some issues that were determined not to have a rational basis for continued ownership. During the fiscal year, all shares in 2 issues were sold, among other transactions.」
For cross-shareholdings, the holdings were reviewed by comparing dividends and transaction earnings with the cost of capital, and all shares in 2 issues were sold, among other transactions. - FY2021AdvancedAnnual report
「The shares held are reviewed annually. For each individual issue, the purpose of holding it and the status of transactions are examined from both qualitative and quantitative perspectives. The Board of Directors scrutinizes the necessity of each issue and verifies whether it should be held. During the fiscal year, all shares in 8 issues were sold.」
As a result of the Board of Directors' verification of the economic rationale of cross-shareholdings, reductions progressed from the sale of all shares in 4 issues and part of the holdings in 1 issue in the previous fiscal year to the sale of all shares in 8 issues in the current fiscal year. - FY2020AdvancedAnnual report
「During the fiscal year, all shares in 4 issues were sold and part of the holdings in 1 issue was sold.」
For cross-shareholdings, the Board of Directors verified their economic rationale by comparing their contribution to dividends and transaction earnings with the cost of capital, and sold all shares in 4 issues and part of the holdings in 1 issue. - FY2019First statedAnnual report
「The shares held are reviewed annually. For each individual issue, the purpose of holding it and the status of transactions are examined from both qualitative and quantitative perspectives. The Board of Directors scrutinizes the necessity of each issue and verifies whether it should be held. During the fiscal year, all shares in 4 issues were sold and part of the holdings in 5 issues was sold.」
For cross-shareholdings, the Board of Directors annually verifies economic rationale and, for the first time, extracted as a standalone theme the policy and track record of reducing holdings in issues for which no rationale is recognized.