Rules on Information Provision and Evaluation Period for Large-Scale Purchase Actions
First written in FY2016. 15 of 17 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
38 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「At a board meeting held on 21 May 2024, the Company resolved not to continue the “Policy for Responding to Large-Scale Purchases of the Company’s Shares, etc. (Takeover Defense Measures)” and to abolish it upon the conclusion of the 15th annual general meeting of shareholders scheduled for 26 June 2024, when its validity period expires.」
The company decided to abolish the policy for responding to large-scale purchases, which had been continued since 2009, upon the conclusion of the annual general meeting of shareholders on 26 June 2024. - FY2023RestatedAnnual report
「At the Company’s annual general meeting of shareholders held on 23 June 2021, the proposal to continue the “Policy for Responding to Large-Scale Purchases of the Company’s Shares, etc.” (the “Takeover Defense Measures”) was approved. The measures are valid for 3 years, until the conclusion of the 15th annual general meeting of shareholders scheduled for June 2024.」
The company continues its takeover defense measures, including the provision of information by large-scale purchasers, evaluation and disclosure of the board’s views, involvement by the independent committee, and evaluation periods of 60 or 90 days. - FY2021RestatedAnnual report
「At the Company’s annual general meeting of shareholders held on 23 June 2021, the proposal to continue the “Policy for Responding to Large-Scale Purchases of the Company’s Shares, etc.” (the “Takeover Defense Measures”) was approved. The measures are valid for 3 years, until the conclusion of the 15th annual general meeting of shareholders scheduled for June 2024.」
The company continues the rules requiring information to be provided by large-scale purchasers, evaluation and disclosure of the board’s views, involvement by the independent committee, and evaluation periods of 60 or 90 days, and has extended their validity through June 2024. - FY2020-Q3RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues its large-scale purchase rule, which is premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and involvement by the independent committee. The evaluation period is 60 days for cash consideration tender offers and 90 days for other offers. - FY2020-Q2RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues its large-scale purchase rule, which is premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and involvement by the independent committee. The evaluation period is 60 days for cash consideration tender offers and 90 days for other offers. - FY2020-Q1RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues its large-scale purchase rule, which is premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and involvement by the independent committee. The evaluation period is 60 days for cash consideration tender offers and 90 days for other offers. - FY2019RestatedAnnual report
「At the Company’s annual general meeting of shareholders held on 27 June 2018, the proposal to continue the “Policy for Responding to Large-Scale Purchases of the Company’s Shares, etc.” (the “Takeover Defense Measures”) was approved. The measures are valid for 3 years, until the conclusion of the 12th annual general meeting of shareholders scheduled for June 2021.」
The company states that the large-scale purchase rule will continue until the conclusion of the annual general meeting of shareholders scheduled for June 2021. - FY2019-Q3RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues its large-scale purchase rule, which is premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and recommendations by the independent committee. The evaluation period also remains unchanged at 60 days for cash consideration tender offers and 90 days for other offers. - FY2019-Q2RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues its large-scale purchase rule, which is premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and recommendations by the independent committee. The evaluation period also remains unchanged at 60 days for cash consideration tender offers and 90 days for other offers. - FY2019-Q1RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues to describe a large-scale purchase rule premised on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, disclosure of the company’s views to shareholders, and recommendations by the independent committee. The evaluation period also remains unchanged at 60 days for cash consideration tender offers and 90 days for other offers. - FY2018-Q3RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues to describe a large-scale purchase rule based on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, and disclosure of the company’s views to shareholders. The evaluation period also remains unchanged at 60 days for cash consideration tender offers and 90 days for other offers. - FY2018-Q2RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The company continues to describe a large-scale purchase rule based on the provision of information by the large-scale purchaser, evaluation and consideration by the board of directors, and disclosure of the company’s views to shareholders. - FY2017RestatedAnnual report
「As the evaluation period, the Company will set one of the following periods depending on the nature of the proposed large-scale purchase. ① 60 days: purchases of all of the Company's shares or other equity securities through a tender offer for which cash is offered as consideration ② 90 days: other large-scale purchases」
The Company continues its basic takeover defense policy of requiring information from the large-scale purchaser, evaluation and consideration by the Board of Directors, and disclosure of the Board's opinion to shareholders, while specifying an evaluation period of 60 or 90 days. - FY2017-Q3RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The rules continue to be described as being based on information provided by the large-scale purchaser, evaluation and consideration by the Board of Directors, and disclosure of the Board's opinion to shareholders. - FY2017-Q2RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The rules continue to be described as being based on information provided by the large-scale purchaser, evaluation and consideration by the Board of Directors, and disclosure of the Board's opinion to shareholders. - FY2017-Q1RestatedAnnual report
「The Company's Board of Directors will require the large-scale purchaser to comply with the large-scale purchase rules. If sufficient information is provided in accordance with the rules, the Board will evaluate and consider it and disclose its opinion on the proposed large-scale purchase to shareholders at an appropriate time.」
The large-scale purchase rules continue to be described as being based on information provided by the large-scale purchaser and evaluation and disclosure of the Board of Directors' opinion. - FY2016First statedAnnual report
「We believe it is important for shareholders to receive sufficient information from the large-scale purchaser regarding the proposed large-scale purchase, for the Company's Board of Directors to evaluate and consider the proposal and provide shareholders with its opinion, and for a reasonable period to be secured, as necessary, for the Board to present alternative proposals to shareholders.」
The policy provides for information from the purchaser, evaluation and an opinion from the Board of Directors, and sufficient time for shareholders to make a decision.