Verification of the Economic Rationale for Strategic Shareholdings and Policy on Sales
First written in FY2021. 4 of 5 entries say "Advanced", first in FY2023. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Unlisted shares 3 235 Shares other than unlisted shares 17 4,848」
Following a review of economic rationale and contributions to corporate value, the sale of 3 issues of unlisted shares and 17 issues of listed shares was disclosed. - FY2025AdvancedAnnual report
「Unlisted shares 3 288 Shares other than unlisted shares 9 497」
Following a review of economic rationale and other factors, the sale during the year of 3 issues of unlisted shares and 9 issues of shares other than unlisted shares was disclosed. - FY2024AdvancedAnnual report
「Shares other than unlisted shares 3 98」
Following a review of the economic rationale of cross-shareholdings, the sale of 3 issues of shares other than unlisted shares during the fiscal year under review was disclosed. - FY2023AdvancedAnnual report
「At a Board of Directors meeting held on 29 September 2022, we reviewed the significance of the holdings described above. For holdings deemed to lack sufficient economic rationale and not to contribute to improved revenue through stronger business relationships or to enhancement of our corporate value, we are engaging in sufficient dialogue with the counterparties and seeking improvement. If no improvement is seen after a certain period, we will consider selling the holdings.」
The process of reviewing the economic rationale of cross-shareholdings and considering sales if there was no improvement was made specific. The sale of all shares in 1 issue was also disclosed. - FY2021First statedAnnual report
「Our policy is to acquire or continue to hold shares that contribute to building and strengthening business relationships over the medium to long term and benefit the businesses of our group. Each year, the Board of Directors reviews the significance of holding each share by comprehensively considering the balance between revenue from business transactions with the counterparty, dividend income from the shares, and the cost of capital, as well as other contributions to enhancing our corporate value.」
For cross-shareholdings, a policy was first comprehensively described of reviewing transaction and dividend income, the cost of capital, and contributions to corporate value each year, and considering sales if there is no improvement.