Cross-Shareholdings Held for Medium- to Long-Term Business Relationships
First written in FY2016. 13 of 25 entries say "Restated". Latest entry: 2026-09-17.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- 2026-09-17AdvancedOccurring Fact
「To strengthen the financial structure and improve asset efficiency.」
The company disclosed the partial sale of 3 listed securities it held to strengthen its financial structure and improve asset efficiency, giving concrete effect to its policy of selling policy-held shares and other securities. - FY2026AdvancedAnnual report
「Following reviews of the rationale for the holdings using the above method at the Board of Directors meetings held on 29 January 2026 and 13 March 2026, the company found that the benefits associated with holding some stocks were below the cost of capital. After comprehensively considering the smooth conduct of its business, medium- to long-term business relationships and the potential for expanding transactions on an individual basis, it decided to retain some of the holdings.」
The Board of Directors continued its review of strategic equity holdings, and the company sold 3 holdings excluding unlisted shares, recording total sale proceeds of ¥1,248 million. - 2026-04-28AdvancedRevision of earnings forecasts
「Proceeds from the sale of investment securities 2,262」
The company continued to sell investment securities and recorded ¥2,262 million in proceeds from sales during the current period. - FY2026-H1AdvancedAnnual report
「Net cash provided by investing activities was ¥1,665 million, an increase of ¥567 million from the same period of the previous interim consolidated fiscal year, mainly owing to proceeds of ¥1,622 million from the sale of investment securities, an increase of ¥489 million from the same period of the previous interim consolidated fiscal year, and expenditures of ¥272 million for the acquisition of property, plant and equipment and intangible assets, a decrease of ¥206 million from the same period of the previous interim consolidated fiscal year.」
In line with its policy of reviewing and selling strategic equity holdings, the company recorded ¥1,622 million in proceeds from the sale of investment securities, and the balance of investment securities also decreased from the end of the previous fiscal year. - FY2025AdvancedAnnual report
「Following a review of the rationale for the holdings using the above method at the Board of Directors meeting held on 30 January 2025, the company found that the benefits associated with holding some stocks were below the cost of capital and, after comprehensively considering the smooth conduct of its business, medium- to long-term business relationships and the potential for expanding transactions on an individual basis, decided to retain some of the holdings...」
The company continued its Board of Directors review of strategic equity holdings, sold 1 unlisted holding and 2 listed holdings, and decided to sell multiple holdings. - FY2025-H1AdvancedAnnual report
「To achieve a PBR of at least 1x for our share price, through the fiscal year ending March 2027 we will accelerate the sale of investment securities previously pursued under our financial strategy and record extraordinary gains.」
In addition to its existing policy of reviewing and selling strategic equity holdings, the company set out a financial strategy to accelerate the sale of investment securities through the fiscal year ending March 2027. - FY2024AdvancedAnnual report
「Following a review at the Board of Directors meeting held on 22 December 2023, the benefits associated with holding approximately 10% of the stocks were found to be below the cost of capital. However, after comprehensively reviewing the smooth conduct of the company's business, medium- to long-term business relationships and the potential for expanding transactions, the company decided to sell some of the holdings.」
The company continued its Board of Directors review of strategic equity holdings and, after confirming that the benefits of holding approximately 10% of the stocks were below the cost of capital, decided to sell some of the holdings. It sold 1 unlisted holding and 7 listed holdings. - FY2022AdvancedAnnual report
「Following a review at the Board of Directors meeting held on 27 December 2021, the benefits associated with holding approximately 20% of the stocks were found to be below the cost of capital. However, after comprehensively reviewing the smooth conduct of the company's business, medium- to long-term business relationships and the potential for expanding transactions, the company decided to sell some of the holdings.」
The company continued its Board of Directors review of strategic equity holdings and, after confirming that the benefits of holding approximately 20% of the stocks were below the cost of capital, decided to sell some of the holdings. Holdings decreased by 2 unlisted stocks and 13 listed stocks. - FY2021AdvancedAnnual report
「Following a review at the Board of Directors meeting held on 24 November 2020, the benefits associated with holding approximately 40% of the stocks were found to be below the cost of capital. However, after comprehensively reviewing the smooth conduct of the company's business, medium- to long-term business relationships and the potential for expanding transactions, the company decided to sell some of the holdings.」
The company continued its Board of Directors review of strategic equity holdings and, after confirming that the benefits of holding approximately 40% of the stocks were below the cost of capital, decided to sell some of the holdings. - FY2020AdvancedAnnual report
「Following a review at the Board of Directors meeting held on 25 November 2019, the benefits associated with holding approximately 30% of the stocks were found to be below the cost of capital. However, after comprehensively reviewing the smooth conduct of the company's business, medium- to long-term business relationships and the potential for expanding transactions, the company decided to sell some of the holdings.」
The Board of Directors reviewed the strategic equity holdings and, after confirming that the benefits of holding approximately 30% of the stocks were below the cost of capital, decided to sell some of the holdings. Excluding unlisted shares, 9 holdings have been sold. - FY2020-Q3RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2020-Q2RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2020-Q1RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2019ReframedAnnual report
「Each year, the Board of Directors verifies the appropriateness of the holdings from a medium- to long-term perspective, comprehensively considering the benefits and risks associated with holding them. If the rationale for holding a particular stock is not recognized, the company will reduce that holding.」
For strategic equity holdings, the company formalized Board of Directors reviews, including comparisons of benefits and the cost of capital, and a policy of reducing holdings that lack a rational basis. It has in fact designated multiple holdings for sale and sold some or all of them. - FY2019-Q3RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2019-Q2RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2019-Q1RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2018RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2018-Q3RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2018-Q2RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2018-Q1RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company continues its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2017-Q3RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company has reiterated its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2017-Q2RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company has reiterated its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2017-Q1RestatedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The company has reiterated its policy of holding strategic equity investments to support medium- to long-term, stable business relationships and business promotion. - FY2016First statedAnnual report
「From the perspective of sustainable growth and enhancing corporate value, our group holds shares issued by other companies as strategic equity holdings when doing so contributes to building, maintaining or strengthening medium- to long-term, stable business relationships with business partners or to the smooth advancement of its business.」
The purpose of these holdings is not pure investment, but to build, maintain and strengthen stable business relationships and promote the business.