Review of the Rationale for Strategic Shareholdings and Reduction Policy
First written in FY2019. 3 of 4 entries say "Advanced", first in FY2020. Latest entry: FY2023.
- FY2023AdvancedAnnual report
「During the fiscal year, the number of shares declined for 3 unlisted shareholdings and 12 shareholdings other than unlisted shares.」
The company continued to assess the rationality of its cross-held shares and sold 12 listed shareholdings and others. - FY2021AdvancedAnnual report
「At the Board of Directors meeting held on 29 March 2021, we assessed whether the significance of holding the shares and the benefits derived from holding them exceeded the cost of capital, considered whether to continue holding them, and sought to reduce the relevant shares where the rationality of holding them was not recognized.」
For cross-held shares, the Board of Directors assessed their rationality on 29 March 2021, and 9 listed shareholdings were sold during the fiscal year. - FY2020AdvancedAnnual report
「For investment shares held for purposes other than pure investment, we regularly assess the trading relationship, profit and loss situation and other factors. At the Board of Directors meeting held on 23 March 2020, we assessed whether the significance of holding the shares and the benefits derived from holding them exceeded the cost of capital, considered whether to continue holding them, and sought to reduce the relevant shares where the rationality of holding them was not recognized.」
For cross-held shares, the Board of Directors conducted a rationality assessment on 23 March 2020, including a comparison with the cost of capital, and 18 listed shareholdings were sold during the fiscal year. - FY2019First statedAnnual report
「For investment shares held for purposes other than pure investment, we regularly assess the trading relationship, profit and loss situation and other factors. At the Board of Directors meeting held on 5 December 2018, we assessed whether the significance of holding the shares and the benefits derived from holding them exceeded the cost of capital, considered whether to continue holding them, and sought to reduce the relevant shares where the rationality of holding them was not recognized.」
For cross-held shares, the company has formalized its rationality assessment based on the trading relationship, profit and loss situation and comparison with the cost of capital, as well as its policy of reducing holdings where rationality is not established.