Reviewing the Rationale for Cross-Shareholdings and the Policy of Reducing Them
First written in FY2019. 1 of 3 entries say "Advanced", first in FY2020. Latest entry: FY2024.
- FY2024RestatedAnnual report
「Under this policy, the shares held in each individual issue are periodically reported to and reviewed by the Board of Directors, and issues determined to have little strategic significance are sold.」
The company has reaffirmed its policy of periodically reviewing cross-shareholdings and selling issues with little strategic significance. - FY2020AdvancedAnnual report
「Under this policy, the shares held in each individual issue are reported to and reviewed by the Board of Directors monthly, and issues determined to have little strategic significance are sold.」
The company has made its process for reviewing cross-shareholdings at monthly meetings of the Board of Directors more specific, including a quantitative assessment of dividends received and other returns relative to acquisition cost and the cost of capital. - FY2019First statedAnnual report
「Our basic policy is not to hold cross-shareholdings except where their purpose, such as maintaining or strengthening business relationships, is recognized. When holding such shares, we will do so from a medium- to long-term perspective where, in light of the following considerations, we determine that the holdings will contribute to expanding our business, achieving sustainable growth and increasing corporate value.」
The company has stated for the first time as a specific policy that it will generally not hold cross-shareholdings, review its holdings at monthly meetings of the Board of Directors, and sell holdings with little strategic significance.