Governance structure
The Company continually reviews the significance and capital efficiency of its cross-shareholdings and holds them strategically and on a limited basis where they are deemed to contribute to enhancing corporate value. Holdings whose significance is insufficient or that do not align with capital policy are reduced. The ratio to net assets was approximately 16% at the end of March 2026. The reduction in the number and value of holdings: not disclosed
Policy regarding shares of other companies held to maintain business relationships and for other purposes.
In place and continued (approved at the annual general meeting of shareholders in June 2025). Opposed to the proposal for abolition
Pre-agreed countermeasures in preparation for an unsolicited takeover attempt.
At the Board of Directors meeting held on 15 May 2026, the Board resolved its opinions on Shareholder Proposal 1 and Shareholder Proposal 2
| Item | Details |
|---|---|
| Committee | Independent committee (comprising external experts, outside directors, and others); proportion of outside members: not disclosed |
| Policy on cross-shareholdings | The Company continually reviews the significance and capital efficiency of its cross-shareholdings and holds them strategically and on a limited basis where they are deemed to contribute to enhancing corporate value. Holdings whose significance is insufficient or that do not align with capital policy are reduced. The ratio to net assets was approximately 16% at the end of March 2026. The reduction in the number and value of holdings: not disclosed |
| Takeover defenses | In place and continued (approved at the annual general meeting of shareholders in June 2025). Opposed to the proposal for abolition |
| Changes this time | At the Board of Directors meeting held on 15 May 2026, the Board resolved its opinions on Shareholder Proposal 1 and Shareholder Proposal 2 |
Items this document does not state (4)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company explained that the Board of Directors needs to make agile decisions on capital policy and dividends, taking into account future growth investments, changes in the business environment, funding needs, financial soundness, and the sustainability of dividends. It also stated that the significance of individual cross-shareholdings is continually reviewed and that such holdings are reduced as necessary, while those considered to contribute to enhancing corporate value are held strategically and on a limited basis. Holdings whose significance is insufficient or that do not align with capital policy will be reduced. The takeover defense measures are deemed necessary to allow shareholders time to obtain and consider information and to preserve corporate value.