Policy for Cross-shareholdings and Voting Standards
Principle 1-4 Cross-shareholdings
The Company has prepared and disclosed a policy for cross-shareholdings (reduction policy and voting standards).
(1)Views on cross-shareholdings
- In principle, the Company will not hold listed stocks as cross-shareholdings except in cases where it recognizes there is significance or justification for ownership. Significance or justification for ownership will be judged from the results of yearly examinations conducted on each stock based on whether there are expectations of collaboration with the issuers and business synergies, as well as on whether the benefit and risk of holding said stock are appropriate to its capital cost. Consequently, stock where there is little significance or justification for ownership will be sold while taking into account the proper stock price, market conditions and other factors.
(2)Standard for voting cross-shareholdings
- The execution of voting rights is an important means of communicating with investees and the Company exercises its voting rights related to all cross-shareholdings. In exercising these rights, the Company checks each proposal and rather than making a uniform judgement on whether to approve or reject it based on formulaic or short-term standards, it makes a judgement from the perspective of whether said proposal will lead to continuous growth and a medium- to long-term increase in corporate value for the Company and the investee, based on sufficient consideration of said investee's management policy, strategies, and the like. Judgement on whether to approve or disapprove a proposal includes careful consideration of the following items in particular, as they may have a significant impact on shareholder return.
- Transfer of important assets
- Merger or share transfers which cause or cease wholly owned subsidiary
- Third-party allotments through favorable issuances
- Introduction of measures to defend against hostile takeovers
Shareholdings (As of March 31, 2019)
- Number of stocks held for purposes other than pure investment and total amount on balance sheet: 55 stocks: ¥21,903 million
- Category, issue, number of shares, balance sheet amount, and purpose of holding of investment shares held for purposes other than pure investment purposes
| Stocks | Number of Options (shares) | Balance Sheet Amounts |
Purpose of holding |
|---|---|---|---|
| Yen | |||
| Omron Corporation | 543,000 | 2,802 | To ensure stable procurement in Business Technologies Business and Healthcare Business, and to maintain and strengthen business relationships in Office Business |
| Marubeni Corporation | 3,570,000 | 2,799 | To maintain and strengthen cooperative relationships with issuers that are sales partners in Business Technologies Business |
| ROHM CO., LTD. | 217,300 | 1,505 | To ensure stable procurement in Business Technologies Business and Industrial Business, and to maintain and strengthen business relationships in Office Business |
| Mitsubishi Warehouse Co., Ltd. | 432,000 | 1,259 | To maintain and strengthen close relationships as a logistics contractor in Business Technologies Business and business relationships in Office Business |
| Dai Nippon Printing Co., Ltd. | 453,010 | 1,140 | To maintain and strengthen business relationships in Industrial Business and Office Business |
| Sumitomo Mitsui Financial Group, Inc. | 283,600 | 1,117 | To facilitate financing transactions with financial institutions affiliated with the issuing company and to collect domestic and overseas information |
| MS & AD Insurance Group Holdings, Inc. | 314,117 | 1,047 | To maintain and strengthen stable insurance transactions and Office Business business relationships |
| T & D Holdings, Inc. | 753,600 | 922 | To maintain and strengthen stable insurance transactions and Office Business business relationships |
| Nikon Corporation | 454,800 | 733 | To maintain and strengthen cooperative relationships in Industrial Business and business relationships in Office Business |
| 114 Bank, Ltd. | 3,078,000 | 1,093 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Kinden Co., Ltd. | 401,400 | 724 | To maintain and strengthen our Office Business business relationships as a subcontractor of our construction and maintenance services |
| NOK Corporation | 408,600 | 719 | To ensure stable procurement in Business Technologies Business and Healthcare Business, and to maintain and strengthen business relationships in Office Business |
| Mebuki Financial Group, Inc. | 2,281,500 | 671 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Rengo Co., Ltd. | 660,000 | 658 | To ensure stable procurement in Business Technologies Business and to maintain and strengthen business relationships in Office Business |
| Kamigumi Co., Ltd. | 200,000 | 511 | To maintain and strengthen close relationships with Business Technologies Business and Industrial Business as logistics contractors and business relationships in Office Business |
| Chiba Bank, Ltd. | 723,500 | 458 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Kansai Mirai Financial Group, Inc. | 402,900 | 335 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Shimizu Corporation | 325,450 | 317 | To maintain and strengthen our business relationships in Office Business, as well as to outsource our construction and maintenance operations |
| Komori Corporation | 200,000 | 236 | Developed and marketed alliance partners in Professional Print Business and Office Business, and to maintain and strengthen business relationships |
| SOMPO Holdings, Inc. | 56,100 | 227 | To maintain and strengthen stable insurance transactions and to maintain and strengthen business relationships in Office Business |
| The Shizuoka Bank, Ltd. | 254,000 | 221 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Iyo Bank, Ltd. | 241,000 | 147 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Resona Holdings, Inc. | 285,700 | 141 | To facilitate financing transactions with financial institutions under the umbrella of the issuing company |
| Aichi Bank, Ltd. | 31,900 | 109 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Ushio Electric Co., Ltd. | 71,561 | 93 | For stable procurement in Business Technologies Business and the maintenance and strengthening of Industrial Business business relationships |
| Ryoden Shoji Co., Ltd. | 44,000 | 66 | For stable procurement in Business Technologies Business and the maintenance and strengthening of business relationships |
| Hiroshima Bank, Ltd. | 95,000 | 55 | To facilitate financing transactions with issuers |
| Yamanashi Chuo Bank, Ltd. | 37,600 | 53 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Nanto Bank, Ltd. | 14,500 | 30 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Ogaki Kyoritsu Bank, Ltd. | 4,100 | 9 | To facilitate financial transactions such as fund raising, and to maintain and strengthen business relationships in Office Business |
| Kyodo Printing Co., Ltd. | 3,300 | 8 | To maintain and strengthen business relationships in Professional Print Business and Office Business |
(NOTE)At the stage of selecting top issues on the balance sheet, specified investment shares and shares deemed to be held are not combined.
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