Reported about 1 year ago
Kyoto Financial Group Inc., led by Nobuhiro Doi, is defying the trend of unwinding cross-held shares in Japan by keeping its substantial strategic holdings in companies like Nintendo and Nidec, resulting in over $6 billion in unrealized profits. Despite pressure to reduce these stakes for better corporate governance, Doi plans to explain the bank's rationale to shareholders and seeks understanding for the massive paper gains accumulated over the years. The bank aims to engage with overseas investors and disclose a reduction plan around November while maintaining most of its strategic investments.
Source: YAHOO