Review of Shares Held for Policy Purposes and Reduction of Holdings Lacking Appropriateness or Rationale
First written in FY2019. . Latest entry: FY2021.
- FY2021Reclassification of cross-shareholdings as securities held for pure investment purposesAnnual report
「(iv) Investment shares whose holding purpose was changed during the fiscal year from purposes other than pure investment to pure investment Issue Number of shares (shares) Balance sheet carrying amount (¥ million) Gaiax Co., Ltd. 97,400 72 800Technology Investment Limited 347,723 74 eCapital Investments Limited 55,636 2」
The Company disclosed that the holding purpose of several cross-shareholdings was changed from purposes other than pure investment to pure investment. It also stated that the largest holding company had no shares held for purposes other than pure investment. - FY2019First statedAnnual report
「The Company has a policy of holding shares solely for the purpose of enhancing the medium- to long-term business value of the Group by maintaining and strengthening business relationships and collaborative arrangements. In addition to reviewing the appropriateness of the holding purpose, the importance of the business relationship and the impact of the shareholding on such relationship, the Company regularly verifies whether each holding is appropriate from the perspective of whether it contributes to enhancing the Group's medium- to long-term corporate value, including through detailed reviews of total shareholder return and other matters relating to the shareholding. Holdings deemed unjustified are reduced. All such reviews are conducted by the Board of Directors for every issue held.」
The Company has clarified for the first time its policy of limiting the purpose of cross-shareholdings to maintaining and strengthening business relationships and collaborative arrangements, conducting regular reviews of all holdings by the Board of Directors and reducing holdings deemed unjustified.