Management of Strategic Shareholdings and Exercise of Voting Rights Based on Business Relationships and Economic Rationality
First written in FY2018. 6 of 10 entries say "Advanced", first in FY2019. Latest entry: FY2026.
- FY2026Increase in shares sold and rise in ownership ratioAnnual report
「During the fiscal year, we sold all or part of our holdings in 5 issues. As a result, the market value of our strategic shareholdings as a percentage of consolidated net assets was 10.7%.」
The company sold 5 strategic shareholdings, but the ratio of their market value to consolidated net assets rose from 9.3% in the previous fiscal year to 10.7%. It continues to review annually the rationale for holding them, their benefits and risks, and their balance with the cost of capital. - 2026-06-02OtherGeneral Meetings of Shareholders
「Target for reducing cross-shareholdings: less than 10% of consolidated net assets ⇒ 10.7% in the fiscal year ended March 2026」
The company disclosed that cross-shareholdings represented 10.7% of consolidated net assets in the fiscal year ended March 2026 against the reduction target. - FY2025AdvancedAnnual report
「During the fiscal year, we sold all or part of our holdings in 3 issues. As a result, the market value of our strategic shareholdings as a percentage of consolidated net assets was 9.3%.」
The company sold 3 strategic shareholdings and disclosed that their market value as a percentage of consolidated net assets was 9.3%. It continues to review annually the rationale for holding them, their benefits and risks, and their balance with the cost of capital. - FY2024AdvancedAnnual report
「Among shares other than unlisted shares, the number of shares increased for 1 issue, with total acquisition costs related to the increase amounting to ¥6 million.」
The company acquired an additional holding in 1 strategic shareholding for ¥6 million due to employee stock ownership plan participation. It continues to disclose its annual individual reviews, reductions in shares with limited rationale for holding them, and voting policy. - FY2023AdvancedAnnual report
「Among shares other than unlisted shares, the number of shares increased for 3 issues, with total acquisition costs related to the increase amounting to ¥203 million.」
The company acquired additional holdings in 3 strategic shareholdings for ¥203 million to further strengthen product procurement, insurance sales and other businesses, and due to employee stock ownership plan participation. - FY2023-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
No material changes were indicated during the quarter in the management and voting policy for strategic shareholdings. - FY2022AdvancedAnnual report
「Among shares other than unlisted shares, the number of shares increased for 6 issues, with total acquisition costs related to the increase amounting to ¥596 million.」
The company acquired additional holdings in 6 strategic shareholdings for ¥596 million to further strengthen product procurement and due to employee stock ownership plan participation. It continues to disclose its annual individual reviews and voting policy. - FY2020AdvancedAnnual report
「Among shares other than unlisted shares, the number of shares increased for 4 issues, with total acquisition costs related to the increase amounting to ¥905 million. The number of shares decreased for 1 issue, with total sale proceeds related to the decrease amounting to ¥13 million.」
The company acquired additional holdings in 4 strategic shareholdings for ¥905 million and sold 1 holding for ¥13 million during the fiscal year. It has also disclosed, based on actual results, its annual individual reviews and management based on business relationships, the cost of capital and other factors. - FY2019AdvancedAnnual report
「Under our basic policy of reducing strategic shareholdings as promptly as possible when we consider that the rationale for holding them has diminished, the Board of Directors reviews the rationale for each strategic shareholding every fiscal year, taking into account transaction value, future business potential, the benefits and risks of holding the shares, and their balance with the cost of capital. If any shares are not considered to contribute to the sustainable growth of our Group and the enhancement of corporate value over the medium to long term, we will sell them in a timely and appropriate manner.」
The company has specified its management policy for strategic shareholdings, including an annual review of each holding, comparison with the cost of capital, and prompt reduction or sale when the rationale for holding shares has diminished. - FY2018First statedAnnual report
「Our strategic shareholdings primarily consist of shares in business partners of the various businesses of our Group. However, we also consider buying and selling such shares as appropriate, taking into account changes in business conditions, dividend income and returns from share price appreciation. The need to hold, purchase additional shares or dispose of shares is periodically reviewed for economic rationale by the Directors and Audit & Supervisory Board Members, and matters are referred to the Board of Directors as necessary.」
The company holds strategic shareholdings primarily in business partners and has stated that it considers holding, purchasing additional shares or disposing of shares based on business relationships, dividend income, returns from share price appreciation and economic rationale.