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IHI has established the following policy on cross-shareholdings in the Corporate Governance Report.
In principle, IHI does not hold shares of listed company for the purpose of cross-shareholdings. However, IHI may exceptionally hold shares of strategic partners such as business alliances and joint research and development for the purpose of improving medium- to long-term growth and corporate value.
In case of holding shares exceptionally for the purpose of cross-shareholdings, regardless of being listed or unlisted, which shares will be held is determined by assessing their mid-to long-term significance and the economic rationality of whether the advantages and risks brought by the shareholdings are commensurate with the capital costs, and the result is reported to the Board of Directors.
The policy for exercising voting rights for cross-shareholdings requires IHI to determine whether each proposal will help improve the medium- to long-term corporate value of IHI without harming its own corporate value. If any concerns arise about a particular matter, IHI decides how to exercise its voting rights through a dialogue with said company.
In fiscal 2024, IHI sold seven security names among its 122 security names of cross-shareholdings (36 listed and 76 unlisted security names) it owned as of the end of the previous fiscal year.