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Basic policy on cross-shareholdings

Maruka Furusato Corporation may engage in cross holding of listed shares in the aim of building, maintaining, and strengthening long-term, stable business relationships. Every year, the General Manager of Maruka Furusato Corporation’s Administrative Headquarters considers the shares owned by the UNISOL Group and reviews the importance and economic rationale of our cross share-holdings, assessing our purpose in holding those shares and unrealized gains or losses, book and market values, dividends, and trading volume for each stock in which we hold shares. The results of this review are brought before the Board of Directors for discussion. Our basic policy is to reduce cross-shareholdings that are judged to be insufficiently important to the Group or are counter to our capital policy. If a company that cross-holds shares in Maruka Furusato Corporation announces its intention to sell or otherwise dispose of those shares, we do not act to prevent this sale or disposal.

Exercise of voting rights

We will appropriately exercise the voting rights associated with our cross-shareholdings after careful consideration of each matter being voted on and assessment of whether or not the exercise of our voting rights would contribute to enhancing shareholder value. In cases where we judge that the exercise of our voting rights would be detrimental to shareholder value, we will express our intention as shareholders by making no affirmative judgment on the matter under discussion.

Our cross-shareholdings

Maruka Furusato Corporation

The principal activity of Maruka Furusato Corporation is the management of its subsidiaries’ business. Maruka Furusato Corporation owns shares in its subsidiaries only. It holds no investments in equity securities either for pure investment or for purposes other than pure investment.

Furusato Industries, Ltd.

Number of cross-held stocks and carrying amount, as of December 31, 2024
Number of stocks Total carrying amount
Unlisted shares – –
Other shares 7 ¥1,150 million
Stocks in which we increased holdings in the fiscal year ended December 31, 2024
Number of stocks Total acquisition cost associated with increase in number of shares Reason for increase in number of shares
Unlisted shares – –
Other shares 2 ¥10 million Acquisition through business partner stockholding association
Stocks in which we reduced holdings in the fiscal year ended December 31, 2024
Number of stocks Total acquisition cost associated with increase in number of shares
Unlisted shares – –
Other shares 5 ¥909 million

Maruka Corporation

Number of cross-held stocks and carrying amount, as of December 31, 2024
Number of stocks Total acquisition cost associated with increase in number of shares
Unlisted shares 7 ¥78 million
Other shares 15 ¥675 million
Stocks in which we increased holdings in the fiscal year ended December 31, 2024
Number of stocks Total acquisition cost associated with increase in number of shares Reason for increase in number of shares
Unlisted shares 1 ¥76 million To promote technological innovation utilizing AI technology and strengthen business relationships
Other shares 2 ¥4 million Acquisition through business partner stockholding association to maintain business relationships
Stocks in which we reduced holdings in the fiscal year ended December 31, 2024
Number of stocks Total acquisition cost associated with increase in number of shares
Unlisted shares – –
Other shares 16 ¥793 million