Shareholdings aimed at maintaining and strengthening business relationships
First written in FY2016. 5 of 8 entries say "Advanced", first in FY2019. Latest entry: FY2026.
The whole theme swung hardest in 2019: 16 of 138 companies on the "Worse" side.
- FY2026AdvancedAnnual report
「At least once a year, the Board of Directors quantitatively and qualitatively verifies whether the shares held are commensurate with the cost of shareholders' equity and whether the holdings provide benefits, taking into account the share price (market value, book value, dividends, share-price trends, etc.) and business relationships. Shares judged to have insufficient significance from a medium- to long-term perspective will be sold as appropriate.」
The company specified a policy of quantitatively and qualitatively reviewing strategic shareholdings at least once a year and selling shares with limited significance as holdings. During the fiscal year, it sold 1 issue, leaving 14 issues held. - FY2025AdvancedAnnual report
「DESCENTE shares — 723,271. All shares were sold during the fiscal year.」
All DESCENTE shares held to maintain and strengthen business relationships were sold, giving concrete effect to the streamlining of strategic shareholdings. - FY2022AdvancedAnnual report
「We exercise the voting rights attached to all shares we hold on every proposal. In exercising those rights, we consider the management and transaction status of each investee company from the perspective of improving its medium- to long-term corporate value, and individually examine whether there is any possibility of impairing our corporate value before appropriately determining whether to vote for or against each proposal.」
The company has formalized its policy for strategic shareholdings by exercising voting rights on all proposals and individually examining the impact on the corporate value of both the investee companies and the company itself. - FY2021AdvancedAnnual report
「The Group holds shares in certain business partners and financial institutions to strengthen and foster business relationships with business partners and to contribute to improving corporate value over the medium to long term. However, the Group will sell shares as appropriate when it determines that the significance of holding them is not necessarily sufficient. The Group exercises all voting rights attached to the shares it holds on every proposal.」
For strategic shareholdings, the Group explicitly states the purposes of business relationships and improving corporate value, as well as its policy of selling shares with limited significance and exercising voting rights on every proposal. - FY2019AdvancedAnnual report
「The Group holds shares in certain business partners and financial institutions to strengthen and foster business relationships with business partners and to contribute to improving corporate value over the medium to long term. However, the Group will sell shares as appropriate when it determines that the significance of holding them is not necessarily sufficient.」
For strategic shareholdings, the Group explicitly states not only the purposes of business relationships and other objectives, but also its policy of selling shares as appropriate when their significance is insufficient. - FY2018RestatedAnnual report
「The Group holds shares in certain business partners and financial institutions to maintain long-term business relationships.」
The purpose of strategic shareholdings has been restated as maintaining long-term business relationships. - FY2017RestatedAnnual report
「The Group holds shares in certain business partners and financial institutions to maintain long-term business relationships.」
The purpose of strategic shareholdings has been restated as maintaining long-term business relationships. - FY2016First statedAnnual report
「The Group holds shares in certain business partners and financial institutions to maintain long-term business relationships.」
The stated purpose of strategic shareholdings is to maintain and strengthen business relationships.