Article 15. (Policy for holding shares of listed companies)
The policy for holding shares of listed companies shall be as follows:
1) The policy for holding shares
The Company shall not hold shares of listed companies other than the case where such holding is recognized to contribute in increasing the Company’s corporate value in the medium and long term such as stable supply for the material and strengthen relationship in sales. In the event that each holding share does not meet the above policy, such share shall be sold to reduce the holding shares as necessary.
2) Validation of reasonability of holding shares
The reasonability of each holding shares shall be concretely verified referring the Company’s policy for holding shares hereinabove and capital costs, and the results of such validation shall be disclosed.
3) Standards for voting
With respect to the voting right of holding shares, the Company shall exercise its voting right with a comprehensive judgment in accordance with holding purpose, in consideration of the continuous growth and enhancement of corporate value of the share issuing company in the medium and long term, and the contribution onto the enhancement of the shareholder’s value of the Company.
4) Relationship with shareholders which holds the Company’s share
Each transaction with the shareholders which holds the Company’s share shall be continued considering the conditions of transaction from the view point of the economical reasonability. In the event that the shareholders which holds the Company’s share shows the intention to sell the Company’s share, the Company shall not interfere such intention.