Protecting Corporate Value and the Common Interests of Shareholders from Large-Scale Acquisitions and Acquisition Proposals
First written in FY2017. 1 of 2 entries say "Restated". Latest entry: FY2022.
16 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「At present, no specific acquisition activity of the type described above has occurred, and the Company has not established in advance any so-called takeover defense measures to be applied if such an acquirer or other party is identified.」
The disclosure states that no specific large-scale acquisition activity has occurred and that the Company continues to assess the impact on corporate value and the common interests of shareholders on a case-by-case basis. - FY2017First statedAnnual report
「With respect to a tender offer intended to acquire a large number of the Company's shares, we recognize the need to carefully examine the offer or takeover proposal based not only on its legality but also on the bidder's business activities, business plans and past investment activities, and to determine whether the offer or proposal would contribute to improving the Company's corporate value and the common interests of existing shareholders, as well as its impact on all stakeholders. At present, no such specific acquisition activity has occurred, and the Company does not establish in advance any so-called takeover defense measures to be applied if such a bidder is identified.」
Although no specific acquisition activity has occurred, the disclosure describes a structure under which the Company would examine and negotiate with a large-scale acquirer, including with experts, and decide and implement countermeasures if it determined that the acquirer would damage corporate value or the common interests of shareholders.