Reviewing the Economic Rationale of Cross-Shareholdings and Selling or Reducing Holdings
First written in FY2019. 2 of 5 entries say "Advanced", first in FY2021. Latest entry: FY2025.
- FY2025No sales; holdings increased by 2 namesAnnual report
「The issues whose number of shares increased during the fiscal year comprised no unlisted issues and 2 issues other than unlisted shares. There were no issues whose number of shares decreased during the fiscal year, either among unlisted shares or among shares other than unlisted shares.」
The Company maintained its policy of annually verifying the economic rationale for strategic shareholdings and selling or reducing them, but made no sales or reductions during the fiscal year, while the number of shares increased for 2 listed issues and other holdings. - FY2023No sales; holdings increasedAnnual report
「The issues whose number of shares increased during the fiscal year comprised 1 unlisted issue and 2 issues other than unlisted shares. There were no issues whose number of shares decreased during the fiscal year, either among unlisted shares or among shares other than unlisted shares.」
The Company maintained its policy of annually verifying the economic rationale for strategic shareholdings and selling or reducing them, but made no sales or reductions during the fiscal year, while the number of shares increased for 3 issues. - FY2022AdvancedAnnual report
「The Company’s basic policy is to hold shares of companies where an economic rationale is recognized in terms of maintaining stable relationships with business partners and contributing to the Company’s sustainable development. In addition, the Company periodically verifies the economic rationale for acquiring and holding each individual issue, taking into account its purpose and the cost of capital, and has a policy of selling or reducing strategic shareholdings where the rationale for continued ownership is deemed to have weakened. The Board of Directors conducts a review each year.」
The Company continued its policy of annually verifying the economic rationale for strategic shareholdings and selling or reducing them, and disclosed the issue whose shares decreased during the fiscal year, following the sale of 1 unlisted issue. - FY2021AdvancedAnnual report
「Among the issues whose number of shares decreased during the fiscal year, there were 2 unlisted issues, with total sale proceeds related to the decrease in the number of shares of ¥8.760 million, and 5 issues other than unlisted shares, with total sale proceeds related to the decrease in the number of shares of ¥207.600 million.」
The Company reduced its strategic holdings by 2 unlisted issues and 5 listed issues and other holdings, demonstrating through its results its policy of selling or reducing such holdings. - FY2019First statedAnnual report
「The Company periodically verifies the economic rationale for acquiring and holding each individual issue, taking into account its purpose and the cost of capital. Its policy is to sell or reduce strategic shareholdings where the rationale for continued ownership is deemed to have weakened, with the Board of Directors conducting a review each year.」
While maintaining its basic policy of holding shares to preserve stable relationships with business partners, the Company verifies the rationale for each holding annually, taking the cost of capital and other factors into account, and states for the first time as an independent topic its policy of selling or reducing holdings where the rationale is weak.