Reviewing the Rationale for Strategic Shareholdings and Policy on Sales
First written in FY2021. 3 of 4 entries say "Advanced", first in FY2022. Latest entry: FY2025.
- FY2025AdvancedAnnual report
「For the fiscal year, at the Board of Directors meeting held on 24 September 2025, we quantitatively confirmed the benefits arising from business relationships with each company in addition to dividends, examined whether they met the benchmarks based on the cost of capital, and comprehensively verified the rationale for holding the shares in light of the purpose of the holdings.」
Regarding strategic shareholdings, the Board of Directors meeting held on 24 September 2025 verified their compliance with dividends, transaction benefits, and cost-of-capital benchmarks. - FY2024AdvancedAnnual report
「For the fiscal year, at the Board of Directors meeting held on 24 September 2024, we quantitatively confirmed the benefits arising from business relationships with each company in addition to dividends, examined whether they met the benchmarks based on the cost of capital, and comprehensively verified the rationale for holding the shares in light of the purpose of the holdings.」
At the Board of Directors meeting held on 24 September 2024, the company verified strategic shareholdings against dividends, transaction benefits, and cost-of-capital benchmarks. - FY2022AdvancedAnnual report
「For the fiscal year, at the Board of Directors meeting held on 28 September 2022, we quantitatively confirmed the benefits arising from business relationships with each company in addition to dividends, examined whether they met the benchmarks based on the cost of capital, and comprehensively verified the rationale for holding the shares in light of the purpose of the holdings.」
Regarding strategic shareholdings, the Board of Directors meeting held on 28 September 2022 verified their compliance with dividends, transaction benefits, and cost-of-capital benchmarks. - FY2021First statedAnnual report
「We have a policy of not holding shares when the rationale for holding them for strategic shareholding purposes cannot be justified. Such rationale is considered justified when, from a medium- to long-term perspective, we appropriately assess the risks and costs associated with the holdings and the returns from holding them, verify their profitability, and comprehensively consider the purpose of maintaining and strengthening business relationships, among other factors, to determine that the holdings will contribute to enhancing our corporate value.」
Regarding strategic shareholdings, the company has disclosed for the first time its policy of selling holdings when their rationale cannot be justified, based on verification against benchmarks incorporating risks, costs, returns, and the cost of capital.