Takeover defenses against purchases of 20% or more
First written in FY2017-Q1. 13 of 19 entries say "Restated". Latest entry: 2026-05-29.
79 other companies' latest entry also says "Restated".
- 2026-05-29RestatedGeneral Meetings of Shareholders
「At the Ordinary General Meeting of Shareholders held on 27 June 2025, our company received shareholders’ approval for this policy.」
The company restated shareholder approval and the effective period for the advance warning policy introduced in 2025, which applies without limiting the class of potential acquirers. - FY2025ReframedAnnual report
「At a board meeting held on 15 May 2025, the company resolved not to renew the event-driven Response Policy and to abolish it upon the conclusion of the first board meeting held after the annual shareholders meeting, and to submit to that annual shareholders meeting a proposal to introduce a Response Policy concerning large-scale acquisitions of the company’s shares and other securities as one of the measures to prevent control over decisions on the company’s financial and business policies by an inappropriate person under the basic policy in (a) above. At the annual shareholders meeting held on 27 June 2025, shareholders approved the Response Policy.」
The company abolished the event-driven Response Policy targeting Daio Kaiun et al., changed to a pre-emptive warning-type Response Policy without limiting the targets, and obtained shareholders’ approval. Its effective period was set to run through the conclusion of the annual shareholders meeting for a fiscal year ending within 3 years. - FY2024AdvancedAnnual report
「At a board meeting held on 22 May 2024, the company resolved that Daio Kaiun et al. would qualify as persons contemplating a large-scale acquisition upon expiration of the current Response Policy. It therefore resolved to extend the effective period of the current Response Policy, to the extent necessary to address this share accumulation, beyond the conclusion of the first board meeting held after the company’s annual shareholders meeting scheduled for June 2024, at which the current Response Policy would expire, through the conclusion of the first board meeting held after the company’s annual shareholders meeting scheduled for June 2025, and to make the necessary revisions to the current Response Policy.」
To address Daio Kaiun et al.’s share accumulation, the company extended the effective period of the current Response Policy through the conclusion of the first board meeting held after the annual shareholders meeting scheduled for June 2025 and revised the policy. - FY2024-Q3ReframedAnnual report
「In light of this share accumulation, at a board meeting held on 22 December 2023, the company’s board of directors revised part of its basic policy concerning the appropriate person to control decisions on the company’s financial and business policies from the perspective of securing the company’s corporate value and the common interests of shareholders. It also resolved to introduce, as measures to prevent control over decisions on the company’s financial and business policies by an inappropriate person under the basic policy concerning control of the company, the “Response Policy” (hereinafter, the “Response Policy”) addressing (1) the ongoing accumulation of the company’s shares and other securities by Daio Kaiun et al. and (2) other large-scale acquisitions that may be contemplated while Daio Kaiun et al.’s large-scale acquisition of the company’s shares and other securities continues.」
The framework was changed from the ordinary-course takeover defense that expired in 2022 to the “Response Policy,” an event-driven, case-specific framework targeting Daio Kaiun et al.’s actual share accumulation and related large-scale acquisitions. - FY2022DroppedAnnual report
「The takeover defense measure adopted with the approval of shareholders at the 181st Annual General Meeting held on 26 June 2019 expired when its validity period ended at the conclusion of the 184th Annual General Meeting held on 29 June 2022.」
The takeover defense covering purchases or other acquisitions of 20% or more expired upon expiration of its effective period at the conclusion of the annual shareholders meeting held on 29 June 2022. - FY2020-Q3RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the content of the takeover defense updated in June 2019, the procedures covering purchases of 20% or more, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022. - FY2020-Q2RestatedAnnual report
「The purpose of this plan is to secure and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other acquisition of 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other acquirer to submit a statement of intent in advance and provide information concerning the purchase or other acquisition, and establishes procedures under which the company secures a period to collect and examine information concerning the purchase or other acquisition, presents shareholders with plans or alternatives proposed by management, and negotiates with the purchaser or other acquirer. “The effective period of the Plan shall run through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022.”」
The company has reiterated the content of the takeover defense updated in June 2019, the procedures covering purchases of 20% or more, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022. - FY2020-Q1RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the content of the takeover defense updated with approval at the June 2019 shareholders meeting, the procedures covering purchases of 20% or more, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022. - FY2019ReframedAnnual report
「At a board meeting held on 17 May 2019, the company resolved to update the “Measures to Address Large-Scale Acquisitions of the Company’s Shares (Takeover Defense)” (hereinafter, the “Plan”). The Plan was updated with the approval of shareholders at the company’s 181st annual shareholders meeting held on 26 June of the same year. “The effective period of the Plan shall run through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022.”」
The takeover defense was updated with approval at the 2019 shareholders meeting, with its effective period running through the conclusion of the annual shareholders meeting for the fiscal year ending March 2022. The procedures covering purchases of 20% or more, the independent committee and the gratis allotment of stock acquisition rights also continued. - FY2019-Q3RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more and the procedures for securing a period to provide and examine information. Its effective period runs through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2019-Q2RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more, the procedures for securing a period to provide and examine information, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2019-Q1RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more, together with its procedures and effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2018-Q3RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more, the procedures for securing a period to provide and examine information, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2018-Q2RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more and the procedures for securing a period to collect and examine information. Its effective period runs through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2018-Q1RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more and the procedures for securing a period to collect and examine information. Its effective period runs through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2017RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more, the procedures for securing a period to provide and examine information, and its effective period through the conclusion of the annual shareholders meeting for the fiscal year ending March 2019. - FY2017-Q3RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the takeover defense covering purchases of 20% or more, together with its procedures and effective period. - FY2017-Q2RestatedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The company has reiterated the content and effective period of the takeover defense approved at the June 2016 shareholders meeting. - FY2017-Q1First statedAnnual report
「The purpose of this plan is to protect and enhance the company’s corporate value and the common interests of shareholders. If a purchase or other transaction involving 20% or more of the company’s shares is undertaken, the plan requires the purchaser or other party to submit a statement of intent and provide information on the transaction in advance. It establishes procedures under which the company secures a period to collect and examine information, presents shareholders with management’s plans or alternatives, and negotiates with the purchaser or other party.」
The takeover defense measures were renewed following a May 2016 board resolution and June shareholder approval, with the term extending through the conclusion of the annual general meeting for the fiscal year ended March 2019.