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.
