Testing the Rationality of Cross-Shareholdings and Reviewing Holdings
First written in FY2021. 4 of 6 entries say "Advanced", first in FY2022. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Holdings for which the number of shares decreased during the fiscal year: unlisted shares 1 2」
Based on the annual review of strategic shareholdings, the Company sold 1 unlisted holding, for total proceeds of ¥2 million. - FY2025RestatedAnnual report
「For each individual strategic shareholding, the Company confirms annually at Board meetings and other forums whether the purpose of holding the shares remains appropriate, including from qualitative perspectives, and determines whether the holding should be retained. If the holding is not considered appropriate or rational, the Company will proceed with a sale.」
The policy of reviewing strategic shareholdings annually and selling holdings that are not considered rational remains in place. No holdings decreased during the fiscal year. - FY2024AdvancedAnnual report
「Holdings for which the number of shares decreased during the fiscal year: shares other than unlisted shares 1 23」
Based on the annual review of strategic shareholdings, the Company sold 1 holding other than unlisted shares, for total proceeds of ¥23 million. - FY2023AdvancedAnnual report
「Holdings for which the number of shares decreased during the fiscal year: Unlisted shares — —; shares other than unlisted shares 1 106」
Following the annual review of whether strategic shareholdings should be retained, the Company sold 1 holding other than unlisted shares, for total proceeds of ¥106 million. - FY2022AdvancedAnnual report
「For each individual strategic shareholding, the Company confirms annually at Board meetings and other forums whether the purpose of holding the shares remains appropriate, including from qualitative perspectives, and determines whether the holding should be retained. If the holding is not considered appropriate or rational, the Company will proceed with a sale.」
For strategic shareholdings, the policy has been made more specific by adding annual reviews of each individual holding and a policy of selling holdings that are not considered rational, in addition to verifying the benefits and risks arising from business relationships against the cost of capital. - FY2021First statedAnnual report
「The Board carefully examines whether the benefits and risks associated with holding shares in business partners are commensurate with the cost of capital. We will continue to hold such shares as long as we determine that they contribute to strengthening business relationships and, ultimately, the development of our business. However, we review the holdings annually and will sell shares with little significance as appropriate, taking into account share prices and market conditions.」
For strategic shareholdings, the Board carefully examines whether the benefits and risks are commensurate with the cost of capital, reviews the holdings annually and, for the first time, specifically describes the policy of selling holdings with little significance.