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Hitachi

Hitachi Transport System

Policy Regarding Cross-holdings of Shares

(As of June 23, 2021)

Criteria and concepts for classification of investment shares

We consider the investment shares are for pure investment purposes when it receives profits from changes in the value of shares or dividends relating to shares. We regard the investment shares of other than these are not for pure investment purposes and consider the listed shares excluding shares of affiliates as Cross-holdings of Shares.


Policy on Cross-holdings of Shares

We does not hold cross-shareholdings in principle, unless it is for a medium-to-long-term sustainable growth of the Company and improvement of corporate value. Under such policy, of 26 issues we hold, we sold all shares of 14 issues in March 2016, one issue in October 2016 and one issue in June 2017, and we purchased one issue in March 2019, resulting in a total of 11 issues of shareholding as of March 31, 2021. As of March 31, 2021, the amount of cross-shareholdings accounted for less than 1% of total assets, which is insignificant on the balance sheet.


Judgment method of rationality of shareholdings and verification contents for propriety shareholdings of individual issue at the Board of Directors

The Board of Directors evaluates every year whether to continue holding those shares from the viewpoint of the criteria for investment assessment (ROE, dividend payout ratio and impairment risk, etc. of individual issue) and the criteria for business assessment (revenues from direct transactions with the company, comparison with the capital cost of major businesses, credit information by a third party agency and compliance, etc.). In addition, on May 22, 2020, the Board of Directors evaluated appropriateness of continuation of the shareholding for Cross-shareholdings of current fiscal year based on the judgment method of the above continuation of the shareholding.


Equity Holding

(As of March 31, 2021)

Number of issues and Amount on Balance Sheet

Number of issues
Total amount on Balance Sheet
(million yen)
Unlisted shares
16
286
Shares other than unlisted shares
11
2,772

Specified Investment Shares

Companies
Current fiscal year
Previous fiscal year
Purpose of holding, quantitative effect of share holdings and reason for increase in number of shares
Number of shares
Amount on Balance Sheet
(million yen)
Fukuyama Transporting Co., Ltd.
200,200
200,200
We will be held continuously for stabilize and expansion our business base, and domestic consolidated purchases cost in FY2020 is more than 500 million yen (annual total).
913
774
AEON CO., LTD.
200,000
200,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated purchases cost in FY2020 is more than 500 million yen (annual total).
660
480
SENKON LOGISTICS CO.,LTD.
500,000
500,000
We will be held continuously for stabilize and expansion our business base, and domestic consolidated purchases cost in FY2020 is more than 100 million yen (annual total).
398
320
AEON Financial Services Co., Ltd.
237,000
237,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
352
274
OKAMURA CORPORATION
120,000
120,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
156
104
Sawai Pharmaceutical Co., Ltd.
20,000
20,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
107
115
Canon Marketing Japan Inc.
34,500
34,500
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
85
74
REGAL CORPORATION
20,000
20,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
41
47
Hisamitsu Pharmaceutical Co.,Inc.
5,684
4,979
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
41
25
Yakult Honsha Co., Ltd.
1,815
1,594
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 500 million yen (annual total).
10
10
NIPPON KODOSHI CORPORATION
3,000
3,000
We will be held continuously for medium-to-long-term growth and improvement of corporate value, and domestic consolidated revenues in FY2020 is more than 100 million yen (annual total).
9
3
(Note)1 The shares of Sawai Pharmaceutical Co., Ltd. were transferred to SAWAI GROUP HOLDINGS CO., Ltd. on April 1, 2021.
     2 The number of shares of both Hisamitsu Pharmaceutical and Yakult Honsha has increased as a result of the purchase through the shareholding association.

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