COMPANY INFORMATION
Shareholding
Policy regarding shares as cross-shareholdings
The Company will hold cross shareholdings in cases where it judges that they will contribute to maintaining and increasing the Group’s corporate value from a perspective of importance to the medium- and long-term business strategy, reinforcing relationships with business partners, and maintaining a stable fund procurement environment. Furthermore, in addition to verifying the appropriateness of each individual shareholding in light of the purpose of said holding, the Company will regularly conduct quantitative verification of matters such as the benefits, risks and capital cost of the holding, and present t results to the Board of Directors as reporting matters. Stocks whose holding is deemed to have little meaning or effect will be sold as appropriate, giving due regard to share prices, market trends, and other information for consideration.
Policy regarding exercise of voting rights
The Company shall exercise its voting rights related to cross-held shares on all proposals for voting after individually judging factors such as whether the proposal will contribute to increasing the Group’s shareholder value, and whether it is appropriate in light of the purpose of shareholding of the Company.
Shareholding
(1) Criteria and approach for classification of investment stocks
The Company and its group hold stocks for pure investment purposes and investment stocks for purposes other than pure investment. The corporate governance guidelines stipulate that investment shares for purposes other than pure investment be held when they are judged to be important for medium- to long-term business strategies, to strengthen relationships with business partners, or to maintain a stable financing environment, and when they are judged to contribute to the enhancement of the Group's corporate value.
(2) Methods of verifying holding policies and rationality of holdings, and details of verification by the Board of Directors, etc. regarding the appropriateness of holding individual stocks
When holding such stocks, in addition to verifying whether they are appropriate in light of the purpose of holding, the Company periodically verifies the benefits, risks, cost of capital, and other quantitative factors associated with holding the stocks. The results are reported to the Board of Directors. In addition, the Company exercises its voting rights on all proposals regarding its shareholdings after individually determining whether such proposals contribute to the enhancement of the Group's shareholder value and whether they are appropriate in light of the Company's shareholding objectives.
(3) Company’s shareholdings
A. Number and balance sheet amount of investment shares held for purposes other than pure investment
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| Number of issues (Issuing companies) |
Total balance sheet amounts (Million yen) |
|
|---|---|---|
| Stocks of unlisted companies | 1 | 499 |
| Stocks of companies other than unlisted companies | 12 | 18,637 |
< Stocks whose number of shares increased in FY2024 >
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| Number of issues (Issuing companies) |
Total acquisition cost of increased shares (Million yen) |
Reason for increase in number of shares | |
|---|---|---|---|
| Stocks of unlisted companies | - | - | - |
| Stocks of companies other than unlisted companies | 1 | 2,999 | The shareholding is to plan for the expansion of business opportunities and maintain and strengthen a good relationship with the issuing company. |
< Stocks with a decrease in shares held in FY2025 > N/A
B. Information on the number of shares, balance sheet amount, etc. of respective investment shares held for purposes other than pure investment that are specified equity securities or deemed holdings of equity securities
< Specified equity securities >
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| Stock | Fiscal 2025 | Fiscal 2024 | Holding purpose, overview of business alliances, etc., quantitative benefits of holding, and reason for increase in shares | Shareholding in the Company |
|---|---|---|---|---|
| Number of shares | Number of shares | |||
| Balance sheet amount (Million yen) |
Balance sheet amount (Million yen) |
|||
| Mitsubishi UFJ Financial Group, Inc. | 1,980,870 | 1,980,870 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 5,150 | 3,983 | |||
| East Japan Railway Company | 1,195,200 | 1,195,200 | The Company intends to continuously promote business cooperation across the Group in addition to that for its Residential and Renewable Energy Businesses. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 4,332 | 3,528 | |||
| Central Japan Railway Company | 966,600 | - | The Company intends to continuously promote business cooperation across the Group in addition to that for services for TOKYU Harvest Club members and services related to creating related population. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 3,947 | - | |||
| Sumitomo Mitsui Trust Group, Inc. | 631,298 | 631,298 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 3,094 | 2,348 | |||
| The Chiba Bank, Ltd. | 332,300 | 332,300 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 663 | 464 | |||
| Dai-ichi Life Holdings, Inc. | 396,400 | 99,100 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. The increase in number of shares is due to a share split. |
Yes |
| 563 | 449 | |||
| Hachijuni Nagano Bank, Ltd. | 132,650 | 132,650 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 255 | 140 | |||
| Mizuho Financial Group, Inc. | 41,458 | 41,458 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 252 | 167 | |||
| Concordia Financial Group, Ltd. | 167,920 | 167,920 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 230 | 164 | |||
| gooddays holdings, Inc. | 120,000 | 120,000 | This is a venture business investment project with which the Company also has a relationship of business cooperation that includes engaging in joint operations intended to realize a startup enterprise cluster in the Greater Shibuya Area. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
No |
| 110 | 77 | |||
| Sumitomo Mitsui Financial Group, Inc. | 5,400 | 5,400 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
No |
| 27 | 20 | |||
| Resona Holdings, Inc. | 6,000 | 6,000 | The issuing company is a main related party of the Company and its consolidated subsidiaries for financial transactions and gathering business information, etc. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 10 | 7 |
Notes:
- The balance sheet amount for The Chiba Bank, Ltd. and the eight stocks below it account for less than 1/100th of the amount of capital. Nevertheless, all stocks are listed. The Hachijuni Bank, Ltd. changed its trade name to Hachijuni Nagano Bank, Ltd. due to management integration by absorption-type merger with the Nagano Bank, Ltd. as the absorbed company.
- “Shareholding in the Company” includes cases where a main subsidiary of the issuing companies listed above holds shares in the Company.
- The quantitative benefits of the shareholding are not listed because the details of transactions with respective related parties cannot be disclosed.
C. Investment shares held purely for investment purposes
N/A
D. Stocks whose holding purpose was changed from purposes other than pure investment to pure investment purposes in the four fiscal years prior to the current fiscal year and in the current fiscal year
N/A
(4) Shareholding at TOKYU LAND CORPORATION
The shareholding at TOKYU LAND CORPORATION, which is the second largest holder of investment shares among the Company and its consolidated subsidiaries in terms of the balance sheet amount (the recorded amount of investment securities), is as follows.
A. Number and balance sheet amount of investment shares held for purposes other than pure investment
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| Number of issues (Issuing companies) |
Total balance sheet amounts (Million yen) |
|
|---|---|---|
| Stocks of unlisted companies | 17 | 1,467 |
| Stocks of companies other than unlisted companies | 4 | 3,028 |
< Stocks with an increase in shares held in FY2025 >
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| Number of issues (Issuing companies) |
Total acquisition cost of increased shares (Million yen) |
Reason for increase in number of shares | |
|---|---|---|---|
| Stocks of unlisted companies | 4 | 436 | The shareholding is to plan for the expansion of business opportunities and maintain and strengthen a good relationship with the issuing company. |
| Stocks of companies other than unlisted companies | - | - | - |
< Stocks with a decrease in shares held in FY2025 > N/A
B. Information on the number of shares, balance sheet amount, etc. of respective investment shares held for purposes other than pure investment that are specified equity securities or deemed holdings of equity securities
< Specified equity securities >
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| Stock | FYE2025 | FYE2024 | Holding purpose, overview of business alliances, etc., quantitative benefits of holding, and reason for increase in shares | Shareholding in the Company |
|---|---|---|---|---|
| Number of shares | Number of shares | |||
| Balance sheet amount (Million yen) |
Balance sheet amount (Million yen) |
|||
| DIGITAL GRID Corporation | 1,500,000 | - | The Company is promoting business alliances aimed at the expansion of non-FIT businesses in its Renewable Energy Business. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. The increase in the number of shares is due to the fact that the shares were held as those of an unlisted company in the previous fiscal year, and that DIGITAL GRID Corporation was listed in the current fiscal year. |
No |
| 1,101 | - | |||
| Heiwa Real Estate Co., Ltd. | 421,400 | 210,700 | The Company conducts exchanges of information, etc. as a member of the same industry as well as transactions through its consolidated subsidiaries. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. The increase in number of shares is due to a share split. |
Yes |
| 1,017 | 990 | |||
| Charm Care Corporation | 396,500 | 396,500 | The Company is promoting business cooperation in its development and operation businesses for senior residences. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 510 | 530 | |||
| Unozawa-gumi Iron Works, Limited | 100,000 | 100,000 | The issuing company is a joint business partner in an office building business. The shareholding is to maintain and strengthen a good relationship with the issuing company. In holding the shares, we perform quantitative verification of the benefits, risks, capital cost, and other aspects of holding the shares, in addition to verifying the appropriateness of holding the shares in light of the holding purpose. |
Yes |
| 400 | 308 |
Notes:
- The balance sheet amount for Charm Care Corporation and Unozawa-gumi Iron Works, Limited accounts for less than 1/100th of the amount of capital. Nevertheless, all stocks are listed.
- The quantitative benefits of the shareholding are not listed because the details of transactions with respective related parties cannot be disclosed.
C. Investment shares held purely for investment purposes
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| Classification | FYE2025 | FYE2024 | ||
|---|---|---|---|---|
| Number of issues (Issuing companies) |
Total balance sheet amounts (Million yen) |
Number of issues (Issuing companies) |
Total balance sheet amounts (Million yen) |
|
| Stocks of unlisted companies | 2 | 244 | 2 | 244 |
| Stocks of companies other than unlisted companies | 1 | 136 | 1 | 206 |
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| Classification | FYE2025 | ||
|---|---|---|---|
| Total amount of dividend income (Million yen) |
Total amount of gain/loss on sale (Million yen) |
Total amount of valuation gain/loss (Million yen) |
|
| Stocks of unlisted companies | - | - | (Note) |
| Stocks of companies other than unlisted companies | - | - | - |
Notes:Unlisted stocks do not have market prices. Therefore, "Total amount of valuation gain/loss" is not listed.
D. Stocks whose holding purpose was changed from purposes other than pure investment to pure investment purposes in the four fiscal years prior to the current fiscal year and in the current fiscal year
N/A
As of June 2026