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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 for cross-shareholding purposes. However, IHI may, in exceptional cases, 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.
The propriety of shares that IHI holds in exceptional cases, including unlisted shares, is reviewed and reported annually to the Board of Directors by confirming the medium- and long-term significance of holding such shares.
In exceptional cases of holding cross-shareholdings and exercising its voting rights, IHI considers each agenda item, confirming whether it will lead to an increase in corporate value over the medium- to long-term for the company in question, and checking that it will not impair IHI's own corporate value. If any doubt arises, IHI uses means such as dialogue with the company in question to determine whether it is for or against each agenda item. If IHI determines that it cannot approve an agenda item, it may consider selling its shareholding in the company in question.
In fiscal 2025, IHI sold 22 security names among its 109 security names of cross-shareholdings (31 listed and 78 unlisted security names) it owned as of the end of the previous fiscal year.