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IHI has established the following policy on cross-shareholdings in internal rules.
As a general rule, IHI looks to reduce cross-shareholdings after engaging in a suitable dialogue with the issuing company. However, IHI may hold shares in strategic partners for business alliances, joint research and development, or other forms of collaboration for the purpose of pursuing medium- to long-term growth and increased corporate value for IHI.
IHI has set up a screening committee for cross-shareholdings, including unlisted stocks. The committee verifies the appropriateness of the shareholdings by confirming the medium- and long-term significance based on the holding policy and examining the economic rationality of whether the advantages and risks brought by the shareholdings are appropriate for the capital costs, and report these findings 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 2023, IHI wholly sold nine security names among its 126 security names of cross-shareholdings (43 listed and 83 unlisted security names) it owned.