1.The partnership with the investee is important, and it is necessary to maintain this relationship.
2.The returns and risks associated with the shareholding match the capital cost.
The Company exercises its voting rights in cross-shareholdings, subject to consideration of the pros and cons of individual proposals to determine whether they contribute to the medium- to long-term enhancement of the corporate value of the Group and investees. In such a case, the Company consults with investees as necessary with emphasis on the following matters:
1.Amendments to the Articles of Incorporation
2.Election of Directors, etc.
3.Takeover Defense Measures
4.Appropriation of Surplus
If a cross-shareholder expresses intent to sell their shares of the Company, we will unconditionally accept the proposal and request the policy-holding shareholder to sell the shares in a manner that minimizes impact on the Company's share price. In such a case, if the Company also holds shares of that cross-shareholder, the Company will promptly sell all shares held by the Company in that cross-shareholder. In addition, we will not continue a relationship with a cross-shareholder without thoroughly examining the economic rationale for that relationship.
Changes in the number of listed stocks held for policy purpose
| End of December 2020 | End of December 2021 | End of December 2022 | End of December 2023 | |
|---|---|---|---|---|
| Number of issues | 39 issures | 32 issures | 27 issures | 23 issures |
| Number of issues of listed companies | 0 issue | 0 issue | 0 issue | 0 issue |
| Amount on the balance sheet
(Millions of yen)
|
4,918 | 1,845 | 1,881 | 2,265 |
| [Breakdown] Amount of listed companies (Millions of yen) | - | - | - | - |