Verification of the rationale for strategic shareholdings and their reduction
First written in FY2019. 3 of 5 entries say "Advanced", first in FY2024. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Issues whose number of shares decreased during the fiscal year Shares other than unlisted shares 2 Total sale value relating to the decrease in the number of shares ¥1,022 million」
All shares of Sumitomo Mitsui Trust Group and Tokyo Kiraboshi Financial Group held as cross-shareholdings were sold. - FY2025AdvancedAnnual report
「T&D Holdings, Inc. － 508,300 The shares were held to maintain and strengthen business and cooperative relationships with financial institutions and had been contributed to a retirement benefit trust, but all shares held were sold during the fiscal year.」
The sale of all T&D Holdings and Mizuho Financial Group shares held as cross-shareholdings was reported. - FY2024AdvancedAnnual report
「Keikyu Corporation 3,500 3,500 The shares were held to maintain and strengthen business and cooperative relationships in the transportation industry and had been contributed to a retirement benefit trust, but all shares held were sold during the fiscal year.」
The sale of all Keikyu Corporation shares held as cross-shareholdings was reported. - FY2023RestatedAnnual report
「Once a year, the Board of Directors verifies for each individual stock holding whether it conforms to the purposes of holding the shares described above and whether the benefits and risks associated with the holding are commensurate with the cost of capital. If, as a result of this verification, we determine that the holding is not appropriate, we will consider selling the shares and work to reduce the holding.」
The policy of reviewing cross-shareholdings once a year and selling or reducing holdings when their appropriateness is not confirmed was reiterated. - FY2019First statedAnnual report
「Once a year, the Board of Directors verifies for each individual stock holding whether it conforms to the purposes of holding the shares described above and whether the benefits and risks associated with the holding are commensurate with the cost of capital. If, as a result of this verification, we determine that the holding is not appropriate, we will consider selling the shares and work to reduce the holding.」
For cross-shareholdings, the company describes an annual review by the Board of Directors, comparison with the cost of capital, and a policy of selling or reducing holdings when their appropriateness is not confirmed.