Review of the rationale for strategic shareholdings based on cost of capital and risk
First written in FY2019. 1 of 4 entries say "Raised", first in FY2020. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「The company held shares in TOSOH CORPORATION to facilitate smooth transactions in the vending machine retail business, but sold them in accordance with its policy of reducing strategic shareholdings.」
In accordance with its policy of reducing strategic shareholdings, the company sold 1,134 shares of TOSOH CORPORATION. It also continues its policy of reviewing the appropriateness of its holdings based on factors including cost of capital and risk. - FY2024RestatedAnnual report
「The company will gradually reduce its cross-shareholdings and retain only the minimum necessary holdings. The Board of Directors reviews each year whether individual holdings should be retained, after scrutinizing whether the benefits and risks of holding them are commensurate with the cost of capital.」
The company continues its policy of limiting strategic shareholdings to the minimum necessary and having the Board of Directors review them annually based on their benefits, risks and cost of capital. - FY2020RaisedAnnual report
「The company will gradually reduce its cross-shareholdings and retain only the minimum necessary holdings. The Board of Directors reviews each year whether individual holdings should be retained, after scrutinizing whether the benefits and risks of holding them are commensurate with the cost of capital.」
In addition to its existing policy of reviewing cost of capital, risks and economic rationale, the company explicitly stated a policy of gradually reducing strategic shareholdings to the minimum necessary. - FY2019First statedAnnual report
「We hold cross-shareholdings to maintain stable business relationships and promote sales. For each holding, the Board of Directors regularly examines whether it is necessary for the Group’s growth and reviews the associated capital cost and risks. If the review finds that the transaction lacks economic rationality, we will reconsider and reduce the holding.」
For strategic shareholdings, the company for the first time indicated a policy of stating the purpose of each holding, having the Board of Directors verify its cost of capital, risks and economic rationale, and reducing the holdings as necessary.