NHK Spring reduces cross-shareholdings with recent stock sale

NHK Spring Co., Ltd. (TSE:5991) announced today that it has completed the sale of a portion of shares previously contributed to its retirement benefit trust. This sale aligns with the company's ongoing efforts to reduce its cross-shareholdings to below 20% of consolidated net assets. The sale involved a single stock holding, realizing a sale price of 7.575 billion yen. NHK Spring obtained the trust administrator's consent prior to the transaction. The company states that the impact of this sale on its consolidated business results for the fiscal year ending March 31, 2025, is expected to be negligible, as it involves assets already designated for the retirement benefit trust.