The Company strategically holds listed shares which are found to be necessary to maintain and expand relationships with business partners over the medium to long term. And yet, the Company shall validate the appropriateness of such holdings annually in the following way, and has been reducing those share holdings.
More specifically, the Company shall scrutinize those share holdings in terms of both quantitative evaluation, which analyzes whether the benefits and risks of holding such shares are commensurate with the relevant cost of capital, and qualitative evaluation, which analyzes the degree of contribution to improving business stability, etc., and the appropriateness of selling shares shall be decided after the deliberation of the Board of Directors.
As for shares which are decided to be sold, the Company shall have sufficient dialogues with the relevant business partners to get their understanding, and then proceeds with the stock sales while considering the impact on share prices.
In FY2018, we sold a total of six stocks worth 887 million yen.
出光興産, DFF Inc.