Policy stock

We do not, in principle, hold investment stocks purely for the purpose of investment. The Company holds investment shares for purposes other than pure investment only when they are judged to contribute to the enhancement of the Company's corporate value, such as suppliers and sales partners for new development and production activities to sustain growth in the Company's main business fields of automotive components business, electronic components business, and industrial equipment-related business. The Company holds these companies only when they are judged to contribute to the enhancement of the Company's corporate value.

In addition, we will continue to reduce shares held as  cross-shareholdings, including deemed holdings, to maintain the ratio of such shares to consolidated net assets at less than 20%, while reviewing the trends in transactions with business partners and future relationships with them.