Reviewing the Rationale for Cross-Shareholdings and Selling Shares
First written in FY2019. 8 of 12 entries say "Advanced", first in FY2020-Q2. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Following a review of the appropriateness of holding individual stocks at a Board of Directors meeting held on 25 September 2025, the company determined that it was appropriate to continue holding the shares for which the rationale for continued ownership had been confirmed. It will continue to review the appropriateness of its holdings periodically.」
The Board of Directors conducted an individual review of cross-shareholdings on 25 September 2025. The company sold 3 stocks other than unlisted stocks, with a sale value of ¥929 million. - 2026-04-30AdvancedFinancial Results Presentation
「Gains on sales of cross-shareholdings increased」
Sales of cross-shareholdings were reflected in results as a factor increasing extraordinary gains. - FY2025AdvancedAnnual report
「Following a review of the appropriateness of holding individual stocks at a Board of Directors meeting held on 28 August 2024, the company determined that it was appropriate to continue holding the shares for which the rationale for continued ownership had been confirmed. It will continue to review the appropriateness of its holdings periodically.」
The Board of Directors continued its review of individual stocks and sold 2 unlisted stocks and 3 stocks other than unlisted stocks. The sale value of the stocks other than unlisted stocks was ¥532 million. - FY2023RestatedAnnual report
「Following a review of the appropriateness of holding individual stocks at a Board of Directors meeting held on 29 July 2022, the company determined that it was appropriate to continue holding the shares for which the rationale for continued ownership had been confirmed. It will continue to review the appropriateness of its holdings periodically.」
The Board of Directors continued its review of individual cross-shareholdings. During the fiscal year, the company sold 4 unlisted stocks, while selling 0 stocks other than unlisted stocks. - FY2023-Q3RestatedAnnual report
「Income taxes increased due in part to the reversal of the prior-year effect of tax-free treatment applied following the sale of cross-shareholdings that had been impaired in prior years.」
The reversal of the tax-free treatment applied in the previous fiscal year in connection with the sale of cross-shareholdings continues to be cited as a factor behind the increase in income taxes for the current quarter. - FY2023-Q2Reversal of the tax effect associated with the sale of cross-shareholdingsAnnual report
「Income taxes increased due in part to the reversal of the prior-year effect of tax-free treatment applied following the sale of cross-shareholdings that had been impaired in prior years.」
The reversal of the tax-free treatment applied in the previous fiscal year in connection with the sale of cross-shareholdings is cited as a factor behind the increase in income taxes for the current quarter. - FY2022AdvancedAnnual report
「Following a review of the appropriateness of holding individual stocks at a Board of Directors meeting held on 30 July 2021, the company determined that it was appropriate to continue holding the shares for which the rationale for continued ownership had been confirmed. It will continue to review the appropriateness of its holdings periodically.」
The Board of Directors reviewed individual cross-shareholdings and confirmed the rationale for continued ownership. During the full fiscal year, the company sold 2 stocks other than unlisted stocks, with a sale value of ¥561 million. - FY2022-Q3AdvancedAnnual report
「Net income attributable to owners of the parent increased due in part to extraordinary gains from the sale of cross-shareholdings, in addition to a substantial increase in ordinary income.」
The company continued to sell cross-shareholdings, recognizing a ¥203 million gain on the sale of investment securities during the cumulative period of the current quarter. - FY2022-Q2AdvancedAnnual report
「Cash flows from investing activities increased primarily due to the sale of cross-shareholdings. This consisted of a ¥695 million cash inflow from the sale of investment securities and other assets, and a ¥433 million cash outflow for the acquisition of investment securities and other assets.」
The company proceeded with the sale of cross-shareholdings, generating a ¥695 million cash inflow from the sale of investment securities and other assets. The income statement also recognized a ¥183 million gain on the sale of investment securities. - FY2020-Q3AdvancedAnnual report
「Net income attributable to owners of the parent increased, despite a substantial decrease in ordinary income, due in part to the recognition of extraordinary gains from the sale of investment securities resulting from the partial reduction of cross-shareholdings.」
The company continued to reduce and sell cross-shareholdings, recognizing a ¥1,358 million gain on the sale of investment securities. A decrease in investment securities resulting from the sale of cross-shareholdings was also confirmed under non-current assets. - FY2020-Q2AdvancedAnnual report
「Net income attributable to owners of the parent declined 15.4%, despite a substantial decrease in ordinary income, due in part to an increase in extraordinary gains from the sale of investment securities resulting from the partial reduction of cross-shareholdings.」
The company partially reduced and sold its cross-shareholdings, recognizing a ¥397 million gain on the sale of investment securities. - FY2019First statedAnnual report
「Our basic policy is to continue holding cross-shareholdings when their significance is recognized from a comprehensive, medium- to long-term perspective aimed at enhancing corporate value in the future. Each year, the Board of Directors reviews the future relationship with business partners for shares whose returns do not exceed the cost of capital, and sells shares it determines are not appropriate to continue holding.」
Regarding cross-shareholdings, the company explicitly states its policy of maintaining and strengthening business relationships, conducting an annual review by the Board of Directors based on the cost of capital, and selling holdings whose continued ownership is not considered appropriate.