Policy for Responding to Large-Scale Purchases
First written in FY2016. 5 of 10 entries say "Restated". Latest entry: FY2021.
Kaneka moved to the "Worse" side of this theme in 2021.
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2021ReframedAnnual report
「With respect to anyone seeking to conduct a large-scale purchase of the Company’s shares, we will take appropriate measures under the Financial Instruments and Exchange Act, the Companies Act, and other applicable laws and regulations, including requesting the provision of necessary and sufficient information to enable shareholders to make an appropriate judgment on the merits of the Large-Scale Purchase, disclosing the opinions of the Board of Directors, and working to secure the time and information necessary for shareholders’ consideration.」
Following the abolition in 2019 of the response plan for large-scale purchases, the Company states a basic policy centered on information provision and securing time for consideration under applicable laws and regulations, rather than an individual plan based on a 20% voting-rights threshold. - FY2020-Q1AchievedAnnual report
「As the Plan was due to expire at the conclusion of the 95th Annual General Meeting of Shareholders held on 21 June 2019, the Company conducted a careful review taking into account shareholders’ views, recent developments concerning takeover defense measures, and changes in the business environment surrounding the Company. At a Board of Directors meeting held on 14 May 2019, it resolved to abolish the Plan upon expiration of its effective period, and the Plan was abolished at the conclusion of the Annual General Meeting of Shareholders.」
The response policy for large-scale purchases expired and was abolished at the conclusion of the annual general meeting of shareholders held on 21 June 2019, and the abolition was implemented. - FY2019DroppedAnnual report
「At a Board of Directors meeting held on 14 May 2019, the Company resolved not to continue the Plan and to abolish it upon expiration of its effective period.」
The Company states its decision to abolish, upon expiration of its effective period in June 2019, the response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights. - FY2019-Q3RestatedAnnual report
「(a) The Plan applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights (a “Large-Scale Purchase”).」
The response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights, together with procedures including information provision, review, negotiations, and referral to a special committee, continues until the conclusion of the June 2019 annual general meeting of shareholders. - FY2019-Q2RestatedAnnual report
「(a) The Plan applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights (a “Large-Scale Purchase”). (b) The Plan establishes in advance the prescribed procedures to be followed by anyone seeking to conduct a Large-Scale Purchase of the Company’s shares and other securities (the “Large-Scale Purchase Rules”), requires the provision of necessary and sufficient information concerning the Large-Scale Purchase, provides an opportunity and time to collect and review information on the Large-Scale Purchase, present the Board’s opinions and alternative proposals to shareholders, and negotiate with the purchaser.」
The response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights, together with procedures for information provision, review, and negotiations, continues. - FY2019-Q1RestatedAnnual report
「The Plan is summarized below. (a) The Plan applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights (a “Large-Scale Purchase”).」
The response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights continues until the conclusion of the annual general meeting of shareholders scheduled for June 2019. - FY2018-Q3RestatedAnnual report
「The Plan is summarized below. (a) The Plan applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights (a “Large-Scale Purchase”). (b) The Plan establishes in advance the prescribed procedures to be followed by anyone seeking to conduct a Large-Scale Purchase of the Company’s shares and other securities (the “Large-Scale Purchase Rules”), requires the provision of necessary and sufficient information concerning the Large-Scale Purchase, provides an opportunity and time to collect and review information on the Large-Scale Purchase, present the Board’s opinions and alternative proposals to shareholders, and negotiate with the purchaser.」
The response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights, together with procedures for information provision, review, and negotiations, continues. - FY2017RestatedAnnual report
「The Plan remains in effect until the conclusion of the Company’s 95th Annual General Meeting of Shareholders scheduled for June 2019.」
The response plan for large-scale purchases covering acquisitions resulting in 20% or more of the voting rights continues until the conclusion of the June 2019 general meeting of shareholders. - FY2017-Q1AdvancedAnnual report
「At the 92nd Annual General Meeting of Shareholders held on 29 June 2016, the shareholders approved the continuation of the Company’s response policy for large-scale purchases of the Company’s shares (the “Plan”), with the aim of continuing to secure and enhance the Company’s medium- to long-term corporate value and the common interests of shareholders. The Plan applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights (a “Large-Scale Purchase”). It establishes in advance the prescribed procedures to be followed by anyone seeking to conduct a Large-Scale Purchase of the Company’s shares and other securities (the “Large-Scale Purchase Rules”), requires the provision of necessary and sufficient information concerning the Large-Scale Purchase, provides an opportunity and time to collect and review information on the Large-Scale Purchase, present the Board’s opinions and alternative proposals to shareholders, and negotiate with the purchaser.」
Continuation of the response policy for large-scale purchases was approved at the annual general meeting of shareholders held on 29 June 2016, with a 20% or more threshold and procedures for information provision, review, and negotiations specified. - FY2016First statedAnnual report
「This applies to purchases of the Company’s shares and other securities that would result in a specified shareholder group holding 20% or more of the voting rights.」
The response plan, including securing the necessary information and time for consideration, referring the matter to a special committee, and making gratis allotments of stock acquisition rights, continues until the conclusion of the general meeting of shareholders scheduled for June 2019.