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Business trends

Corporate Japan sheds more cross-shareholdings

12% of stocks unloaded in five years as pressure grows

Japanese companies are working on improving corporate governance by unwinding cross-shareholdings.   © Reuters

TOKYO -- Publicly traded nonfinancial companies in Japan are stepping up their disposal of cross-held shares, applying the proceeds toward new research and debt repayment.

Stocks held in cross-shareholdings fell by about 2,200 in fiscal 2018 to 75,650, according to data from 2,755 companies compiled by Nikkei. The overall tally has dropped by around 10,000, or 12%, in five years.

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