Takeover Defense Measures to Protect Corporate Value and the Common Interests of Shareholders
First written in FY2016. 21 of 27 entries say "Restated". Latest entry: FY2026.
27 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「The Company decided to update the "Policy for Responding to Large-Scale Purchases of the Company's Shares and Other Securities (Takeover Response Policy)" to prevent inappropriate parties from controlling decisions on the Company's financial and business policies, deter large-scale purchases that could harm the Company's corporate value and, consequently, the common interests of shareholders, and enable the Board of Directors, when a large-scale purchase is made, to propose alternatives to shareholders, secure the information and time necessary for shareholders to decide whether to accept such a purchase, and negotiate for the common interests of shareholders. The policy is to be submitted for approval at the ordinary general meeting of shareholders scheduled for 24 June 2026.」
Decided to update the takeover response policy and proceeded to the stage of submitting the proposal to the ordinary general meeting of shareholders scheduled for 24 June 2026. As of the filing date, the update itself had not yet been approved. - 2026-05-26AdvancedGeneral Meetings of Shareholders
「The effective period of our policy regarding responses to large-scale purchases of our shares and other securities, which was approved by shareholders at the 72nd Annual General Meeting of Shareholders held on 21 June 2024, will expire upon the conclusion of this General Meeting of Shareholders.」
Regarding the policy on responses to takeovers approved in 2024, the Board of Directors decided on an update at its meeting held on 14 May 2026 and is seeking approval at this Annual General Meeting of Shareholders. The effective period will run until the conclusion of the 76th Annual General Meeting of Shareholders, scheduled for June 2028, and the definition of non-qualified parties was also identified as a substantive change. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover response policy to protect corporate value and the common interests of shareholders. - FY2024AdvancedAnnual report
「The Company's Board of Directors decided to update the "Policy for Responding to Large-Scale Purchases of the Company's Shares and Other Securities (Takeover Response Policy)" to prevent inappropriate parties from controlling decisions on the Company's financial and business policies, deter large-scale purchases that could harm the Company's corporate value and, consequently, the common interests of shareholders, and enable the Board of Directors, when a large-scale purchase is made, to propose alternatives to shareholders, secure the information and time necessary for shareholders to decide whether to accept such a purchase, and negotiate for the common interests of shareholders. The update was approved at the ordinary general meeting of shareholders held on 21 June 2024.」
Updated the takeover response policy and obtained approval at the ordinary general meeting of shareholders held on 21 June 2024. The scope of application was expanded to include transactions that result in ownership of 20% or more through an agreement with joint holders or other parties. - FY2024-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter regarding the basic policy concerning the appropriate form of control over decisions on the group's financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2024-Q2RestatedAnnual report
「During the six months ended 30 September, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2023-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter regarding the basic policy concerning the appropriate form of control over decisions on the group's financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2023-Q2RestatedAnnual report
「During the six months ended 30 September, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2022-Q2RestatedAnnual report
「During the six months ended 30 September, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2022-Q1RestatedAnnual report
「During the first quarter of the consolidated fiscal year, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
Reconfirms that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2021-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter regarding the basic policy concerning the appropriate form of control over decisions on the group's financial and business policies.」
States that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2021-Q2RestatedAnnual report
「During the six months ended 30 September, there were no material changes to the basic policy established by the Group regarding the nature of those who control decisions on financial and business policies.」
States that there have been no material changes to the basic policy, including the takeover defense measures to protect corporate value and the common interests of shareholders. - FY2020-Q3RestatedAnnual report
「These measures apply to purchases, other acquisitions or similar actions, or proposals for such actions, that fall under either (a) purchases or other acquisitions of the company's shares or other securities resulting in the holder's shareholding ratio reaching 20% or more, or (b) tender offers for the company's shares or other securities resulting in the combined shareholding ratio of the tender offeror and its specially related parties reaching 20% or more.」
The company reaffirms the scope of the takeover defense measures covering acquisitions of 20% or more and similar transactions. - FY2020-Q2RestatedAnnual report
「These measures apply to purchases, other acquisitions or similar actions, or proposals for such actions, that fall under either (a) purchases or other acquisitions of the company's shares or other securities resulting in the holder's shareholding ratio reaching 20% or more, or (b) tender offers for the company's shares or other securities resulting in the combined shareholding ratio of the tender offeror and its specially related parties reaching 20% or more.」
The company reaffirms the scope and procedures for applying the takeover defense measures approved at the annual general meeting of shareholders held on 22 June 2018. - FY2020-Q1RestatedAnnual report
「We believe that these measures, described in section 3 above, constitute a framework consistent with the basic policy for securing and enhancing the company's corporate value and, consequently, the common interests of shareholders. When a large-scale purchase is proposed, the framework enables the board of directors to propose an alternative to shareholders, secure the information and time they need to determine whether to accept the proposal, and negotiate in the common interests of shareholders, among other things.」
The company reaffirms the framework of the takeover defense measures, which enables shareholders to secure the information and time needed to make a decision and allows the company to present alternative proposals and negotiate. - FY2019-Q3RestatedAnnual report
「We believe that these measures, described in section 3 above, constitute a framework consistent with the basic policy for securing and enhancing the company's corporate value and, consequently, the common interests of shareholders. When a large-scale purchase is proposed, the framework enables the board of directors to propose an alternative to shareholders, secure the information and time they need to determine whether to accept the proposal, and negotiate in the common interests of shareholders, among other things.」
The company reaffirms the framework of the takeover defense measures, which enables shareholders to secure the information and time needed to make a decision and allows the company to present alternative proposals and negotiate. - FY2019-Q2RestatedAnnual report
「The company decided to update its response policy regarding large-scale purchases of the company's shares and other securities, namely its takeover defense measures, and obtained approval at the annual general meeting of shareholders held on 22 June 2018.」
The company reaffirms the update of the takeover defense measures approved at the annual general meeting of shareholders held on 22 June 2018, together with the framework. - FY2019-Q1RestatedAnnual report
「The company decided to update its response policy regarding large-scale purchases of the company's shares and other securities, namely its takeover defense measures, and obtained approval at the annual general meeting of shareholders held on 22 June 2018.」
The company reaffirms that the update of the takeover defense measures was approved at the annual general meeting of shareholders and reaffirms the framework. - FY2018AdvancedAnnual report
「The company decided to update its response policy regarding large-scale purchases of the company's shares and other securities, namely its takeover defense measures, and obtained approval at the annual general meeting of shareholders held on 22 June 2018.」
The update of the takeover defense measures was approved at the annual general meeting of shareholders held on 22 June 2018, completing the new update procedures. - FY2018-Q3RestatedAnnual report
「We believe that these measures, described in section 3 above, constitute a framework consistent with the basic policy for securing and enhancing the company's corporate value and, consequently, the common interests of shareholders. When a large-scale purchase is proposed, the framework enables the board of directors to propose an alternative to shareholders, secure the information and time they need to determine whether to accept the proposal, and negotiate in the common interests of shareholders, among other things.」
The company reaffirms the takeover defense measures as a framework that enables shareholders to secure the information and time needed to make a decision, receive alternative proposals and conduct negotiations. - FY2018-Q2RestatedAnnual report
「We believe that these measures, described in section 3 above, constitute a framework consistent with the basic policy for securing and enhancing the company's corporate value and, consequently, the common interests of shareholders. When a large-scale purchase is proposed, the framework enables the board of directors to propose an alternative to shareholders, secure the information and time they need to determine whether to accept the proposal, and negotiate in the common interests of shareholders, among other things.」
The company reaffirms the takeover defense measures as a framework that enables the board to present and negotiate alternative proposals and secure the information and time shareholders need to make a decision. - FY2018-Q1RestatedAnnual report
「We believe that anyone controlling decisions on the company's financial and business policies must sufficiently understand the company's financial and business operations and the sources of its corporate value, and must be capable of continuously and sustainably securing and enhancing the company's corporate value and, consequently, the common interests of shareholders.」
The basic approach to takeover defense measures, from the perspective of protecting corporate value and the common interests of shareholders, continues. - FY2017RestatedAnnual report
「We believe that anyone controlling decisions on the company's financial and business policies must sufficiently understand the company's financial and business operations and the sources of its corporate value, and must be capable of continuously and sustainably securing and enhancing the company's corporate value and, consequently, the common interests of shareholders.」
The basic approach to takeover defense measures, from the perspective of protecting corporate value and the common interests of shareholders, continues. - FY2017-Q3RestatedAnnual report
「The update of these measures was approved at the annual general meeting of shareholders held on 22 June 2016.」
The company reiterates that the update of the takeover defense measures was approved at the general meeting of shareholders, with no new procedural developments disclosed. - FY2017-Q2RestatedAnnual report
「The update of these measures was approved at the annual general meeting of shareholders held on 22 June 2016.」
The company reiterates that the update of the takeover defense measures was approved at the general meeting of shareholders, with no new procedural developments disclosed. - FY2017-Q1AdvancedAnnual report
「The update of these measures was approved at the annual general meeting of shareholders held on 22 June 2016.」
The update of the takeover defense measures was approved at the annual general meeting of shareholders, reaching the procedural milestone under the policy through the previous update. - FY2016First statedAnnual report
「We believe that anyone controlling decisions on the company's financial and business policies must sufficiently understand the company's financial and business operations and the sources of its corporate value, and must be capable of continuously and sustainably securing and enhancing the company's corporate value and, consequently, the common interests of shareholders.」
While not categorically opposing large-scale purchases, the company is updating the framework for securing information and time and taking countermeasures, including through an independent committee.