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-- 119.160 Are the performance and stock prices both exceeding expectations? Here are 5 stocks to watch for huge sales of policy-held shares! Some companies will return 50% of the sales proceeds to the shareholders.
Listed companies are selling policy-held shares for the purpose of owning stocks jointly. According to the Nihon Keizai Shimbun dated the 28th, the total sales amount for the fiscal year ending in March 2024 by over 2,000 companies excluding financial institutions amounted to 3.69 trillion yen, an 86% increase compared to the previous period.
The increase in sales is explained later, but selling policy-held shares is expected to have a positive impact on the stock price of the respective companies.If the sales proceeds are recorded as extraordinary profits, it will lead to an improvement in performance and can be utilized for investment for growth or share buybacks, resulting in improved growth and capital efficiency.。If used as the source of shareholder dividends through increased payouts, it will directly contribute to the increase in stock price.Said.
Therefore, we will pick up the 5 stocks that have a high percentage of policy shareholding in the consolidated net assets and for which the company has indicated specific sales plans.
The increase in sales is explained later, but selling policy-held shares is expected to have a positive impact on the stock price of the respective companies.If the sales proceeds are recorded as extraordinary profits, it will lead to an improvement in performance and can be utilized for investment for growth or share buybacks, resulting in improved growth and capital efficiency.。If used as the source of shareholder dividends through increased payouts, it will directly contribute to the increase in stock price.Said.
Therefore, we will pick up the 5 stocks that have a high percentage of policy shareholding in the consolidated net assets and for which the company has indicated specific sales plans.
◆ $MS&AD Insurance Group Holdings (8725.JP)$：The proceeds from the sale will be used for a shareholder return of 800 billion yen over the next 5 years.
Of the policy shareholdings, excluding those for business investments,By the end of fiscal year 2029, we aim to reduce the policy shareholdings to zero, which amounted to approximately 3.6 trillion yen as of the end of March 2024.We have indicated our plans.50% of the adjusted profits from the sale will be returned to shareholders.There is an intention to allocate about 800 billion yen for this.
In addition, Regarding the sale, the intention is to "reduce it as much as possible in advance. The accelerated sale will be returned as a special dividend. It is expected that the sales forecast for the 2025 fiscal year has already incorporated a sale of 675 billion yen and a gain on sale of approximately 550 billion yen, and it is expected that about 300 billion yen of the revised group profit of 630 billion yen will be from the sale of policy-owned shares. In the first quarter (April-June) earnings, the current term profit increased by 83% from the same period of the previous year to 204.3 billion yen, as stated.
The 2025 fiscal year is expected to include proceeds from the sale of 675 billion yen and a gain on sale of approximately 550 billion yen in the earnings forecast, and it is expected that about 300 billion yen of the revised group profit of 630 billion yen will come from the sale of policy-owned shares. In the first quarter (April-June) earnings, the current period profit is expected to reach 204.3 billion yen, an increase of 83% compared to the same period of the previous year, achieving a progress rate of 33.5% compared to the full-year performance forecast.is turning out to be.
In the 2026 fiscal year, the revised profit target for the group is 760 billion yen, of which approximately 310 billion yen is attributed to the impact of the sale of policy-held shares.
Of the policy shareholdings, excluding those for business investments,By the end of fiscal year 2029, we aim to reduce the policy shareholdings to zero, which amounted to approximately 3.6 trillion yen as of the end of March 2024.We have indicated our plans.50% of the adjusted profits from the sale will be returned to shareholders.There is an intention to allocate about 800 billion yen for this.
In addition, Regarding the sale, the intention is to "reduce it as much as possible in advance. The accelerated sale will be returned as a special dividend. It is expected that the sales forecast for the 2025 fiscal year has already incorporated a sale of 675 billion yen and a gain on sale of approximately 550 billion yen, and it is expected that about 300 billion yen of the revised group profit of 630 billion yen will be from the sale of policy-owned shares. In the first quarter (April-June) earnings, the current term profit increased by 83% from the same period of the previous year to 204.3 billion yen, as stated.
The 2025 fiscal year is expected to include proceeds from the sale of 675 billion yen and a gain on sale of approximately 550 billion yen in the earnings forecast, and it is expected that about 300 billion yen of the revised group profit of 630 billion yen will come from the sale of policy-owned shares. In the first quarter (April-June) earnings, the current period profit is expected to reach 204.3 billion yen, an increase of 83% compared to the same period of the previous year, achieving a progress rate of 33.5% compared to the full-year performance forecast.is turning out to be.
In the 2026 fiscal year, the revised profit target for the group is 760 billion yen, of which approximately 310 billion yen is attributed to the impact of the sale of policy-held shares.
◆ $TBS Holdings (9401.JP)$：In the 2023 fiscal year, the book value of the held shares increased by about 90%, providing ample resources for growth.
In the 2023 fiscal year, policy-held shares were sold for 26 billion yen.Due to the increase in stock prices, the book value of policy-held shares at the end of the 2023 fiscal year increased by about 90% from 501.1 billion yen at the end of the 2022 fiscal year to 936.6 billion yen.The book value of policy-held shares accounts for over 80% of the consolidated net assets.
保有株の過半を占めるのが、 $Tokyo Electron (8035.JP)$株だ。23年度に一部売却したにもかかわらず、簿価ベースで22年度末の261.6 billion円から23年度末には598 billion円へと2倍以上に増加した。In the 2023 fiscal year, policy-held shares were sold for 26 billion yen.Due to the increase in stock prices, the book value of policy-held shares at the end of the 2023 fiscal year increased by about 90% from 501.1 billion yen at the end of the 2022 fiscal year to 936.6 billion yen.The book value of policy-held shares accounts for over 80% of the consolidated net assets.
TBSHDは東京エレクトロン株について、「経営戦略上の各種投資を円滑に遂行するための成長戦略資本と位置づけ、必要に応じて随時活用する」としており、同株が成長戦略の選択肢を広げる役割を果たしている。
同社はことし4月に子会社が保有する3銘柄を売却し、既に25年3月期業績予想に約8.4 billion円の売却益を織り込んでいる。ただ、同社は毎年、政策保有株の継続保有の適否を検証しており、23年度は10月と11月に行った。24年度も今後、There is a possibility of deciding to sell further shareholdings.It seems so.
In addition, the company plans to increase the consolidated dividend payout ratio from the conventional 30% to 40% in fiscal 2024, and expects the annual dividend per share for the fiscal year ending March 2025 to be 10 yen higher than the previous period, at 54 yen per share.
◆ $Sompo Holdings (8630.JP)$：Sale gains exceeding 80 billion yen in July alone, 50% will be additionally returned to shareholders.
As of the end of fiscal year 23Policy holdings of 1,820 billion yenThere are "shares that may hinder fair competition in insurance transactions due to shareholding."The policy is to reduce it to zero by the end of 2030.In the fiscal year 2024, they aim to reduce it by at least 200 billion yen, and from fiscal year 2024 to fiscal year 2026, they aim to reduce it by 600 billion yen, and further accelerate its sale.They have expressed the policy of returning 50% of the proceeds from the sale to the shareholders.They have announced the policy of doing so.
As of the end of July, they have made sales worth 152.6 billion yen and earned 80.3 billion yen in proceeds from the sale.Of these, the sales in the first quarter (April to June) amounted to only 31.6 billion yen.The net profit for the first quarter ending in June increased by 20% from the same period last year to 120 billion yen, with a progress rate of 52% against the full-year performance forecast.The gain on sale associated with the sale of 121 billion yen in July is expected to be recorded in the second quarter earnings report.
As of the end of fiscal year 23Policy holdings of 1,820 billion yenThere are "shares that may hinder fair competition in insurance transactions due to shareholding."The policy is to reduce it to zero by the end of 2030.In the fiscal year 2024, they aim to reduce it by at least 200 billion yen, and from fiscal year 2024 to fiscal year 2026, they aim to reduce it by 600 billion yen, and further accelerate its sale.They have expressed the policy of returning 50% of the proceeds from the sale to the shareholders.They have announced the policy of doing so.
As of the end of July, they have made sales worth 152.6 billion yen and earned 80.3 billion yen in proceeds from the sale.Of these, the sales in the first quarter (April to June) amounted to only 31.6 billion yen.The net profit for the first quarter ending in June increased by 20% from the same period last year to 120 billion yen, with a progress rate of 52% against the full-year performance forecast.The gain on sale associated with the sale of 121 billion yen in July is expected to be recorded in the second quarter earnings report.
◆ $Sumitomo Mitsui Trust Group (8309.JP)$：This fiscal year also has the possibility of a gain on sale exceeding 100 billion yen.
As of the end of fiscal year 23, the policy-held shares were more than 1.2 trillion yen at cost and 495 billion yen at acquisition cost.The reduction target for the amount acquired from fiscal year 23 to fiscal year 25 is 150 billion yen.In fiscal year 23, the acquisition cost was reduced by 79.3 billion yen (sales amount 163.416 billion yen).
At the time of the announcement of the first quarter (April-June) earnings report for the fiscal year ending in March 25 on July 30th,The progress rate, including the unsold portion, of the already agreed sale is 76% against a planned 150 billion yen.Since the sale is progressing smoothly, we are aiming to achieve it within the fiscal year 2024, 1 year earlier.In the first quarter of the fiscal year 2025 ending in March, we sold 10.4 billion yen worth at acquisition cost, and the profit from the sale was 16.9 billion yen.。
Additionally, there is an already agreed sale amount of approximately 24.5 billion yen for the fiscal year 2024.Assuming the same ratio of acquisition cost to profit from sale as the first quarter (sale profit is 1.625 times acquisition cost), the sale in fiscal year 2024 has alreadyagreements. The amount of unsold units is about 24.5 billion yenalreadyEven if it remains only for the agreed share, the capital gain will be about 56.7 billion yen.In addition,If the goal for the fiscal year 2025 is achieved in advance by one year, the calculation will result in a capital gain of about 115 billion yen in the fiscal year 2024.Become.
The company's performance forecast for the fiscal year ending March 2025 expects a net profit of around 240 billion yen, about three times the previous year, but the progress rate at the end of the first quarter is about 28%.
As of the end of fiscal year 23, the policy-held shares were more than 1.2 trillion yen at cost and 495 billion yen at acquisition cost.The reduction target for the amount acquired from fiscal year 23 to fiscal year 25 is 150 billion yen.In fiscal year 23, the acquisition cost was reduced by 79.3 billion yen (sales amount 163.416 billion yen).
At the time of the announcement of the first quarter (April-June) earnings report for the fiscal year ending in March 25 on July 30th,The progress rate, including the unsold portion, of the already agreed sale is 76% against a planned 150 billion yen.Since the sale is progressing smoothly, we are aiming to achieve it within the fiscal year 2024, 1 year earlier.In the first quarter of the fiscal year 2025 ending in March, we sold 10.4 billion yen worth at acquisition cost, and the profit from the sale was 16.9 billion yen.。
Additionally, there is an already agreed sale amount of approximately 24.5 billion yen for the fiscal year 2024.Assuming the same ratio of acquisition cost to profit from sale as the first quarter (sale profit is 1.625 times acquisition cost), the sale in fiscal year 2024 has alreadyagreements. The amount of unsold units is about 24.5 billion yenalreadyEven if it remains only for the agreed share, the capital gain will be about 56.7 billion yen.In addition,If the goal for the fiscal year 2025 is achieved in advance by one year, the calculation will result in a capital gain of about 115 billion yen in the fiscal year 2024.Become.
The company's performance forecast for the fiscal year ending March 2025 expects a net profit of around 240 billion yen, about three times the previous year, but the progress rate at the end of the first quarter is about 28%.
◆ $Obayashi (1802.JP)$：Agreed sales exceeding 70 billion yen are planned for the fiscal year 2024.
Among the five construction companies whose policy holdings account for more than 20% of the consolidated net assets, Obayashi Corporation's holding amount at the end of 2023 exceeds 390 billion yenand is the highest.In 2023, it sold 33.1 billion yen worth of shares, while the book value increased by 149.1 billion yen due to the stock price rise.This has had an impact.
The companyaims to achieve the target of keeping the consolidated net assets within 20% by the end of 2026 and strives for further reduction.The funds obtained from the sale will be used forWith active execution of growth investments, it is allocated to strategic shareholder returns.as stated.
Regarding the sales in the fiscal year 24, including unlisted stocks,Agreed to sell 71.6 billion yen worth of assets.This is equivalent to more than 80% of the company's expected net profit of 87 billion yen for the full year.In the first quarter (April-June) earnings, the net profit was nearly four times higher than the same period last year at 25.8 billion yen, thanks to smooth sales of policy-owned stocks, achieving a progress rate of about 30% against the full-year performance forecast.is turning out to be.
Among the five construction companies whose policy holdings account for more than 20% of the consolidated net assets, Obayashi Corporation's holding amount at the end of 2023 exceeds 390 billion yenand is the highest.In 2023, it sold 33.1 billion yen worth of shares, while the book value increased by 149.1 billion yen due to the stock price rise.This has had an impact.
The companyaims to achieve the target of keeping the consolidated net assets within 20% by the end of 2026 and strives for further reduction.The funds obtained from the sale will be used forWith active execution of growth investments, it is allocated to strategic shareholder returns.as stated.
Regarding the sales in the fiscal year 24, including unlisted stocks,Agreed to sell 71.6 billion yen worth of assets.This is equivalent to more than 80% of the company's expected net profit of 87 billion yen for the full year.In the first quarter (April-June) earnings, the net profit was nearly four times higher than the same period last year at 25.8 billion yen, thanks to smooth sales of policy-owned stocks, achieving a progress rate of about 30% against the full-year performance forecast.is turning out to be.
- Request from the Tokyo Stock Exchange to improve capital efficiency
- Increase in institutional investors opposing the appointment of directors of companies with a high proportion of policy-held shares in net assets
- Increasing pressure from activists (vocal shareholders) for the sale of policy-held shares and shareholder returns
- The Financial Services Agency plans to investigate whether policy-held shares are being disclosed appropriately (Nikkei newspaper, May 27th)
In addition, $Tokio Marine Holdings (8766.JP)$Regarding MS&AD Insurance Group HD and SOMPO HD, two of the three major non-life insurance companies, there is a background of being required to report on the reduction plan for policy-held shares in the business improvement order issued by the Financial Services Agency in December 2023. It has also been reported in the Nikkei newspaper on August 29th that the Financial Services Agency plans to establish rules that prohibit insurance companies from holding shares for business purposes that could hinder fair competition.
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Sources: EDINET, respective company websites, Nikkei, moomoo
Sources: EDINET, respective company websites, Nikkei, moomoo
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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182251542 : The more policy-held shares are sold, the less money flows back into Japan, and tax revenue, salaries, and corporate internal reserves are reduced. Headed straight for a poverty society, not satisfied with just stocks traded on the market, but forcing the disposal of policy-held shares to weaken Japanese companies. What is the Japanese government trying to achieve!
k0ta81r1 : From an amateur's perspective, if we sell the policy holding shares, the company will instantly increase its profits by the selling amount, but the shareholding status will be resolved and the floating shares of the company's stock in the market will increase. I think that if there are more shares in the market, it will lead to a decrease in the company's stock price. I wonder how adults are thinking?