Verification of the Rationale for Strategic Shareholdings and Reduction
First written in FY2019. 5 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「With respect to investment shares held for purposes other than pure investment, the company aims to halve the balance by the end of March 2027, using the balance as of the end of September 2023 (¥10,708 million) as the baseline. As of the end of the fiscal year, progress toward the target was 70.4%.」
The company disclosed a numerical target of halving cross-shareholdings by the end of March 2027 from the balance of ¥10,708 million at the end of September 2023, with progress of 70.4%. During the fiscal year, it reduced holdings in 10 unlisted issues and 4 listed issues. - FY2024AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Unlisted shares: 1 issue Total sale proceeds related to the decrease in the number of shares: ¥0 million Shares other than unlisted shares: 3 issues Total sale proceeds related to the decrease in the number of shares: ¥112 million」
Under its policy of verifying the rationale for and reducing cross-shareholdings, the company reduced the number of shares held in 1 unlisted issue and 3 listed issues. - FY2021AdvancedAnnual report
「Holdings whose number of shares decreased during the fiscal year Unlisted shares: 3 issues Total sale proceeds related to the decrease in the number of shares: ¥1,004 million Shares other than unlisted shares: 2 issues Total sale proceeds related to the decrease in the number of shares: ¥45 million」
Under its policy of having the Board of Directors verify the rationale for cross-shareholdings, the company reduced its holdings in 3 unlisted issues and 2 listed issues during the fiscal year. Meanwhile, it additionally acquired shares in 1 listed issue to strengthen business relationships. - FY2019First statedAnnual report
「As a general principle, we do not hold investment shares whose purpose of holding is other than pure investment, except where it is deemed reasonable to hold them, such as when business relationships are expected to contribute to enhancing our corporate value or presence. We also carefully assess the reasonableness of such holdings, including whether the risks and returns associated with them are commensurate with our cost of capital. For the principal holdings among these shares, the Board of Directors periodically verifies the rationale for holding them. Where the results of the verification indicate that continued ownership is not justified, we will reduce the holdings.」
With respect to cross-shareholdings, the company described for the first time as a standalone theme its policy of verifying their contribution to corporate value and presence in relation to the cost of capital and reducing holdings that are not deemed reasonable.