Strategic shareholdings for maintaining and strengthening business relationships
First written in FY2016. 14 of 19 entries say "Advanced", first in FY2020. Latest entry: 2026-10-01.
The whole theme swung hardest in 2019: 18 of 135 companies on the "Worse" side.
- 2026-10-01AdvancedGovernance
「We will continue working to reduce these holdings, with a target of lowering the ratio to net assets to below 20% during FY2026 and below 15% by FY2030.」
Regarding cross-shareholdings, the company disclosed that it did not meet its target of below 20% of net assets at the end of FY2025, while specifying reduction targets for FY2026 and FY2030. - FY2026AdvancedAnnual report
「Under the above policy, in the fiscal year ending March 2026, we sold all of 6 specified investment shares and part of our holdings in 1 share, converting them into ¥69,377 million in funds. As a result, as of the end of March 2026, listed strategically held shares amounted to ¥80,402 million (18 issues).」
The company further reduced its strategically held shares, selling all of 6 shares and part of its holdings in 1 share, converting ¥69,377 million into funds. Listed strategically held shares amounted to 18 issues, with a carrying amount of ¥80,402 million. - FY2026-H1AdvancedAnnual report
「In its Corporate Governance Report, the company plans to reduce strategically held shares to less than 20% of net assets by the end of fiscal 2025, and is promoting reductions as part of this initiative to improve capital efficiency.」
Based on its plan to reduce strategically held shares, the company disclosed a plan to sell 2 listed securities between November 2025 and the end of March 2026, with expected gains on sale of approximately ¥7.4 billion. - FY2025AdvancedAnnual report
「Under the above policy, in the fiscal year ended March 2025, we sold all of 8 specified investment shares and part of our holdings in 4 shares, converting them into ¥32,386 million in funds. As a result, as of the end of March 2025, listed strategically held shares amounted to ¥112,763 million (24 issues).」
The company further reduced its strategically held shares, selling all of 8 shares and part of its holdings in 4 shares, converting ¥32,386 million into funds. Listed strategically held shares amounted to 24 issues, with a carrying amount of ¥112,763 million. - FY2025-H1AdvancedAnnual report
「In its Corporate Governance Report, the company plans to reduce strategically held shares to less than 20% of net assets by the end of fiscal 2025, and is promoting reductions as part of this initiative to improve capital efficiency.」
Based on its policy of reducing strategically held shares, the company disclosed a specific plan to sell 2 listed securities between November 2024 and the end of March 2025, with an expected gain on sale of approximately ¥11 billion. - FY2024AdvancedAnnual report
「Under the above policy, in the fiscal year ended March 2024, we sold all of 3 specified investment shares and part of our holdings in 4 shares, converting them into ¥16,901 million in funds. As a result, as of the end of March 2024, listed strategically held shares amounted to ¥165,861 million (32 issues).」
The company continued reducing its strategically held shares, selling all of 3 shares and part of its holdings in 4 shares, converting ¥16,901 million into funds. Listed strategically held shares decreased to 32 issues. - FY2024-Q3AdvancedAnnual report
「Quarterly net income attributable to owners of the parent increased by ¥3,015 million, or 14.0%, year on year to ¥24,596 million, as gains on sales of investment securities resulting from the reduction of strategically held shares increased under extraordinary income, despite a decrease in gains on disposals of fixed assets.」
Gains on sales of investment securities resulting from the reduction of strategically held shares exceeded the previous year's level, and sales based on the reduction policy were identified as a factor behind the increase in quarterly net income. - FY2024-Q2AdvancedAnnual report
「In its Corporate Governance Report, the company plans to reduce strategically held shares to less than 20% of net assets by the end of fiscal 2025, and is promoting reductions as part of this initiative to improve capital efficiency.」
The company disclosed a plan to reduce strategically held shares to less than 20% of net assets by the end of fiscal 2025 and to sell 5 listed securities between November 2023 and the end of March 2024. - FY2023-Q3AdvancedAnnual report
「Quarterly net income attributable to owners of the parent increased by ¥9,747 million, or 82.4%, year on year to ¥21,580 million, mainly because gains on sales of investment securities resulting from the reduction of strategically held shares and gains on disposals of fixed assets from the sale of non-core real estate rental assets increased under extraordinary income, despite a decrease in gains on disposals of fixed assets.」
The increase in gains on sales of investment securities resulting from the reduction of strategically held shares was explicitly identified as a factor behind the increase in quarterly net income attributable to owners of the parent for the nine months ended 31 December. - FY2022-Q1AdvancedAnnual report
「Quarterly net income attributable to owners of the parent increased by ¥1,643 million, or 100.8%, year on year to ¥3,272 million, due in part to the recognition of gains on sales of investment securities from the partial sale of strategically held shares under extraordinary income and a decrease in losses from temporary closures of certain commercial facilities due to COVID-19 under extraordinary losses.」
The company recorded a ¥314 million gain on sales of investment securities from the partial sale of strategically held shares, providing an additional example of sales based on reviews of holding rationale and the sale policy. - FY2021AdvancedAnnual report
「Under the above policy, in the fiscal year ended March 2021, we sold all of 7 specified investment shares and part of our holdings in 5 shares, converting them into ¥6,727 million in funds. As a result, as of the end of March 2021, listed strategically held shares amounted to ¥105,855 million (45 issues).」
Based on annual reviews of rationale that take the cost of capital into account and the sale policy, the company sold all of 7 listed shares and part of its holdings in 5 shares, converting a total of ¥6,727 million into funds. - FY2020AdvancedAnnual report
「For these strategically held listed shares, the Board of Directors conducts an annual review of their rationale based on a quantitative assessment that takes into account the cost of capital relative to the benefits of holding them, including profits from business transactions and dividends received, as well as a qualitative assessment of the significance of the holdings. The policy is to sell shares as appropriate when the review finds that continued ownership is not rational.」
The company disclosed holdings of 89 unlisted and 52 listed strategically held shares, and stated that it sold 7 listed shares during the fiscal year. - FY2020-Q1RestatedAnnual report
「Total assets at the end of the first quarter of the current consolidated fiscal year decreased by ¥14,542 million from the end of the previous fiscal year to ¥468,032 million. Cash and deposits declined due to capital investment, payments of operating accounts payable and corporate taxes payable, and the acquisition of treasury shares, while investment securities declined as the market value of held shares fell.」
Although no change in the policy for strategically held shares was disclosed, the balance of investment securities declined due to a fall in the market value of the holdings. - FY2019ReframedAnnual report
「For these strategically held listed shares, the Board of Directors conducts an annual review of their rationale based on a quantitative assessment that takes into account the cost of capital relative to the benefits of holding them, including profits from business transactions and dividends received, as well as a qualitative assessment of the significance of the holdings. The policy is to sell shares as appropriate when the review finds that continued ownership is not rational.」
The policy for strategically held shares intended to maintain and strengthen business relationships now includes quantitative and qualitative assessments, annual reviews by the Board of Directors, taking the cost of capital into account, and a policy of selling holdings that lack a rational basis. - FY2018Number of holdings maintained while carrying amount increasedAnnual report
「Number of issues: 145; total carrying amount on the balance sheet: ¥117,292 million」
The company held 145 strategically held shares for the purpose of maintaining and strengthening business relationships, keeping the number of issues unchanged from the previous fiscal year, while their carrying amount was ¥117,292 million. - FY2017RestatedAnnual report
「Number of issues: 145; total carrying amount on the balance sheet: ¥103,727 million」
The company held 145 shares other than those held solely for investment purposes, with a total carrying amount of ¥103,727 million, stating that the purpose of the holdings is to maintain and strengthen business relationships. - FY2016First statedAnnual report
「Investment shares held for purposes other than pure investment」
The company disclosed 146 strategically held shares with a carrying amount on the balance sheet of ¥87,947 million, stating that their primary purpose is to maintain and strengthen business relationships.