Reviewing Cross-Shareholdings Against the Cost of Capital and Reducing Holdings
First written in FY2019. 3 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2025.
- FY2025AdvancedAnnual report
「(Holdings whose number of shares decreased during the fiscal year) Unlisted securities: —, —; securities other than unlisted securities: 3, ¥1,136 million」
The company sold 3 listed securities held as cross-shareholdings and disclosed total sale proceeds of ¥1,136 million. - FY2024RestatedAnnual report
「The company invests in cross-shareholdings in securities that are expected to enhance its corporate value, for the purposes of business alliances and maintaining and strengthening business relationships. Each year, it reviews each holding individually, including whether the purpose of the holding and the associated benefits and risks are commensurate with the cost of capital, and reports the results to the Board of Directors.」
The company continues its policy concerning the purpose of cross-shareholdings, assessing whether they are commensurate with the cost of capital, and reviewing holdings, including reductions, where their rationale has diminished. - FY2022AdvancedAnnual report
「(Holdings whose number of shares decreased during the fiscal year) Unlisted securities: 3, ¥98 million; securities other than unlisted securities: 3, ¥147 million」
The company sold 3 unlisted securities and 3 listed securities held as cross-shareholdings. Total sale proceeds were ¥98 million and ¥147 million, respectively. - FY2021AdvancedAnnual report
「During the fiscal year, the holdings whose number of shares decreased consisted of 2 unlisted securities. The total sale proceeds from the reduction in the number of shares were ¥143 million.」
The company sold 2 unlisted securities held as cross-shareholdings and reduced its holdings. - FY2020RestatedAnnual report
「The company invests in cross-shareholdings in securities that are expected to enhance its corporate value, for the purposes of business alliances and maintaining and strengthening business relationships. Each year, it reviews each holding individually, including whether the purpose of the holding and the associated benefits and risks are commensurate with the cost of capital, and reports the results to the Board of Directors.」
The company continues to review the purpose of cross-shareholdings, assess whether they are commensurate with the cost of capital, and review holdings, including reductions, where their rationale has diminished. - FY2019First statedAnnual report
「The company invests in cross-shareholdings in securities that are expected to enhance its corporate value, for the purposes of business alliances and maintaining and strengthening business relationships. Each year, it reviews each holding individually, including whether the purpose of the holding and the associated benefits and risks are commensurate with the cost of capital, and reports the results to the Board of Directors. The company will also review holdings, including reductions, when it determines that the rationale for holding them is no longer justified.」
The company disclosed for the first time its policy of holding cross-shareholdings for business alliances and business relationships, annually assessing whether the benefits and risks are commensurate with the cost of capital, and reviewing holdings, including reductions, where their rationale has diminished.