Board Verification of the Rationale for Holding Strategic Shareholdings
First written in FY2019. 2 of 3 entries say "Restated". Latest entry: FY2025.
- FY2025RestatedAnnual report
「The company’s policy is to hold shares as part of its business strategy when, after comprehensively considering its business strategies and the maintenance and strengthening of business relationships, it determines that doing so is reasonable. The validity of its holdings is reviewed annually by the Board of Directors based on quantitative assessments of the benefits from holdings, such as profits from business transactions and dividends received, relative to the company’s cost of capital, together with qualitative assessments.」
The company reiterates its policy of evaluating cross-shareholdings quantitatively and qualitatively based on business strategies and business relationships, and reviewing their validity annually at Board of Directors meetings. - FY2023RestatedAnnual report
「The company’s policy is to hold shares as part of its business strategy when, after comprehensively considering its business strategies and the maintenance and strengthening of business relationships, it determines that doing so is reasonable. The validity of its holdings is reviewed annually by the Board of Directors based on quantitative assessments of the benefits from holdings, such as profits from business transactions and dividends received, relative to the company’s cost of capital, together with qualitative assessments.」
The company reiterates its policy of evaluating cross-shareholdings quantitatively and qualitatively based on business strategies and business relationships, and reviewing their validity annually at Board of Directors meetings. - FY2019First statedAnnual report
「The company’s policy is to hold shares as part of its business strategy when, after comprehensively considering its business strategies and the maintenance and strengthening of business relationships, it determines that doing so is reasonable. The validity of its holdings is reviewed annually by the Board of Directors based on quantitative assessments of the benefits from holdings, such as profits from business transactions and dividends received, relative to the company’s cost of capital, together with qualitative assessments.」
The company has explicitly stated for the first time its policy of holding cross-shareholdings based on its business strategies and business relationships, and reviewing their validity annually at Board of Directors meetings using both quantitative assessments based on the cost of capital and other factors and qualitative assessments.