Shareholdings Held to Build, Maintain and Strengthen Business Relationships
First written in FY2017. 6 of 9 entries say "Advanced", first in FY2019. Latest entry: FY2025.
The whole theme swung hardest in 2019: 18 of 134 companies on the "Worse" side.
- FY2025AdvancedAnnual report
「We are reducing our holdings by selling shares where no significance or rationale for holding them can be recognized.」
We sold 2 unlisted issues and 16 listed issues, reducing the number of holdings to 55 unlisted issues and 47 listed issues. - FY2024AdvancedAnnual report
「We are reducing our holdings by selling shares where no significance or rationale for holding them can be recognized. The review confirmed for the majority of individual holdings reviewed that the purpose of holding them was to strengthen relationships with business partners and stabilize transactions, and that related income and dividends were commensurate with our cost of capital.」
For cross-shareholdings, we continued to conduct a review by the Board of Directors at least once a year. During the fiscal year, we sold 2 unlisted issues and 19 listed issues. - FY2023AdvancedAnnual report
「We are reducing our holdings by selling shares where no significance or rationale for holding them can be recognized.」
For cross-shareholdings, we continued the annual review by the Board of Directors. During the fiscal year, we sold 3 unlisted issues and 6 listed issues. At fiscal year-end, we held 54 unlisted issues and 77 listed issues. - FY2022AdvancedAnnual report
「The review confirmed that, for most of the individual securities reviewed, the purpose of holding them was to strengthen relationships with business partners and stabilize transactions, and that the related earnings and dividends were commensurate with our cost of capital. For securities that do not align with the purpose of holding them or are not commensurate with our cost of capital, we will consider strengthening business relationships or selling the holdings in the future.」
Reconfirms the policy of reviewing strategic shareholdings annually for alignment with business relationships and our cost of capital, and considering the sale of securities that do not meet these criteria. At fiscal year-end, holdings totaled 136 issues, with a carrying amount of ¥49,012 million. - FY2021AdvancedAnnual report
「The review confirmed that, for most of the individual securities reviewed, the purpose of holding them was to strengthen relationships with business partners and stabilize transactions, and that the related earnings and dividends were commensurate with our cost of capital. For securities that do not align with the purpose of holding them or are not commensurate with our cost of capital, we will consider strengthening business relationships or selling the holdings in the future.」
Presents the results of a qualitative and quantitative review of strategic shareholdings and specifies the policy of considering the sale of securities that do not align with the stated purpose or our cost of capital. - FY2020RestatedAnnual report
「The Board of Directors reviews the appropriateness of holding each security once a year, examining the status of transactions from the perspectives of consistency with the purpose of holding the security and whether it generates returns commensurate with our cost of capital.」
Restates the annual review by the Board of Directors of strategic shareholdings and the determination of whether to continue holding them based on cost of capital and transaction status. - FY2019AdvancedAnnual report
「The Board of Directors reviews the appropriateness of holding each security once a year, examining the status of transactions from the perspectives of consistency with the purpose of holding the security and whether it generates returns commensurate with our cost of capital.」
Explicitly states that the Board of Directors reviews strategic shareholdings once a year and determines whether to continue holding each security based on its purpose, our cost of capital, and transaction status. - FY2018RestatedAnnual report
「Investment securities held for purposes other than pure investment comprised 150 issues, with a total balance sheet carrying amount of ¥46,954 million. The purpose of holding them is to build, maintain, and strengthen business relationships.」
Describes the policy of holding strategic shareholdings to build, maintain, and strengthen business relationships, together with holdings of 150 issues totaling ¥46,954 million. - FY2017First statedAnnual report
「Investment securities held for purposes other than pure investment comprised 149 issues, with a total balance sheet carrying amount of ¥42,419 million. The purpose of holding them is to build, maintain, and strengthen business relationships.」
For strategic shareholdings, for the first time identifies as a standalone theme the policy of holding them to build and maintain business relationships, together with the scale of the holdings.