Periodic review of cross-shareholdings and reduction of inappropriate holdings
First written in FY2021. 4 of 6 entries say "Advanced", first in FY2022. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Holdings with a decrease in the number of shares during the fiscal year: unlisted shares — —; shares other than unlisted shares 1 18,630」
Under its policy of reviewing cross-held shares twice a year, the company sold 1 listed shareholding for ¥18,630 thousand during the fiscal year and reduced its holdings. - FY2025AdvancedAnnual report
「At board meetings held twice a year (1 April 2024 and 1 October 2024 in the current fiscal year), we conduct a detailed review of each cross-held shareholding and consider whether it should be retained, examining such matters as the status of transactions with the investee company, its usefulness from a sales-strategy perspective in terms of generating future orders, business synergies and other factors that may enhance our corporate value, and whether the benefits and risks of holding the shares are commensurate with the cost of capital.」
The company continued its twice-yearly board review of cross-held shares and reports decreases during the fiscal year in 1 unlisted shareholding and 1 listed shareholding. - FY2024AdvancedAnnual report
「Holdings with a decrease in the number of shares during the fiscal year: unlisted shares 1 5,973」
The company continued its twice-yearly board review of cross-held shares and reduced its holdings during the fiscal year by selling 1 unlisted shareholding. - FY2023RestatedAnnual report
「In addition, at board meetings held twice a year (4 April 2022 and 3 October 2022 in the current fiscal year), we conduct a detailed review of each cross-held shareholding and consider whether it should be retained, examining such matters as the status of transactions with the investee company, its usefulness from a sales-strategy perspective in terms of generating future orders, business synergies and other factors that may enhance our corporate value, and whether the benefits and risks of holding the shares are commensurate with the cost of capital.」
The company reaffirms its practice of reviewing cross-held shares twice a year in terms of transactions, synergies and their relationship with the cost of capital, and determining whether they should be retained. - FY2022AdvancedAnnual report
「In addition, at board meetings held twice a year (5 April 2021 and 4 October 2021 in the current fiscal year), we conduct a detailed review of each cross-held shareholding and consider whether it should be retained, examining such matters as the status of transactions with the investee company, its usefulness from a sales-strategy perspective in terms of generating future orders, business synergies and other factors that may enhance our corporate value, and whether the benefits and risks of holding the shares are commensurate with the cost of capital. Accordingly, we will reduce cross-held shares deemed inappropriate to retain.」
The company conducted its twice-yearly review of cross-held shares and sold 1 specified investment shareholding for ¥79,015 thousand during the current fiscal year. - FY2021First statedAnnual report
「In addition, at board meetings held twice a year (7 April 2020 and 1 October 2020 in the current fiscal year), we conduct a detailed review of each cross-held shareholding and consider whether it should be retained, examining such matters as the status of transactions with the investee company, its usefulness from a sales-strategy perspective in terms of generating future orders, business synergies and other factors that may enhance our corporate value, and whether the benefits and risks of holding the shares are commensurate with the cost of capital. Accordingly, we will reduce cross-held shares deemed inappropriate to retain.」
For the first time, the company explicitly states its policy of reviewing cross-held shares twice a year in terms of transactions, synergies and their relationship with the cost of capital, and reducing holdings deemed inappropriate.