Hostile Corporate Acquisitions That Impair Corporate Value
First written in FY2016. 12 of 13 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2025: 3 of 26 companies on the "Worse" side.
86 other companies' latest entry also says "Restated".
- FY2024-Q1RestatedAnnual report
「We have also established a basic policy concerning the manner in which persons who control decisions on financial and business policies should be determined; however, there have been no material changes to the overview of its contents or other matters, as prescribed in Article 118, item 3 of the Ordinance for Enforcement of the Companies Act.」
The company continues to explain that there has been no material change to its basic policy concerning the nature of the party controlling decisions on its financial and business policies. - FY2023-Q1RestatedAnnual report
「We have also established a basic policy concerning the manner in which persons who control decisions on financial and business policies should be determined; however, there have been no material changes to the overview of its contents or other matters, as prescribed in Article 118, item 3 of the Ordinance for Enforcement of the Companies Act.」
The company continues to explain that there has been no material change to its basic policy concerning the nature of the party controlling decisions on its financial and business policies. - FY2022RestatedAnnual report
「We believe that the person who controls decisions on the company’s financial and business policies must understand the sources of our corporate value and be capable of ensuring and enhancing our corporate value and, consequently, the common interests of shareholders on a continuous and stable basis.」
The company continues its basic policy concerning hostile takeovers and identifies the provision of information and securing sufficient time for shareholders to consider the matter as appropriate measures. - FY2022-Q3RestatedAnnual report
「We have also established a basic policy concerning the manner in which persons who control decisions on financial and business policies should be determined; however, there have been no material changes to the overview of its contents or other matters, as prescribed in Article 118, item 3 of the Ordinance for Enforcement of the Companies Act.」
The company continues to explain that there has been no material change to its basic policy concerning the nature of the party controlling decisions on its financial and business policies. - FY2022-Q2RestatedAnnual report
「We have also established a basic policy concerning the manner in which persons who control decisions on financial and business policies should be determined; however, there have been no material changes to the overview of its contents or other matters, as prescribed in Article 118, item 3 of the Ordinance for Enforcement of the Companies Act.」
The company stated that there had been no material change to its financial and business policy concerning corporate value and the common interests of shareholders. - FY2021-Q3RestatedAnnual report
「We have also established a basic policy concerning the manner in which persons who control decisions on financial and business policies should be determined; however, there have been no material changes to the overview of its contents or other matters, as prescribed in Article 118, item 3 of the Ordinance for Enforcement of the Companies Act.」
The company stated that there had been no material change to its basic policy that management should be controlled by parties who understand the sources of corporate value. - FY2020-Q3RestatedAnnual report
「We believe that the person who controls decisions on the company’s financial and business policies must understand the sources of our corporate value and be capable of ensuring and enhancing our corporate value and, consequently, the common interests of shareholders on a continuous and stable basis.」
The company continues to maintain a basic policy based on the possibility that large-scale purchases by parties that do not understand the sources of corporate value could damage corporate value and the common interests of shareholders. - FY2020-Q2RestatedAnnual report
「We believe that the person who controls decisions on the company’s financial and business policies must understand the sources of our corporate value and be capable of ensuring and enhancing our corporate value and, consequently, the common interests of shareholders on a continuous and stable basis.」
The company continues to maintain a basic policy based on the possibility that large-scale purchases by parties that do not understand the sources of corporate value could damage corporate value and the common interests of shareholders. - FY2019-Q3RestatedAnnual report
「We believe that the person who controls decisions on the company’s financial and business policies must understand the sources of our corporate value and be capable of ensuring and enhancing our corporate value and, consequently, the common interests of shareholders on a continuous and stable basis.」
The company continues to maintain a basic policy based on the possibility that large-scale purchases by parties that do not understand the sources of corporate value could damage corporate value and the common interests of shareholders. - FY2019-Q1RestatedAnnual report
「The company believes that any person who controls decisions on the company's financial and business policies must understand the sources of the company's corporate value and be capable of enabling it to maintain and enhance its corporate value and, consequently, the common interests of shareholders on a continuous and stable basis.」
The company continues to maintain a basic policy based on the possibility that large-scale purchases by parties that do not understand the sources of corporate value could damage corporate value and the common interests of shareholders. - FY2018RestatedAnnual report
「If a hostile takeover is carried out that clearly damages the group's corporate value and the common interests of its shareholders, there is concern that it may have an adverse effect on the group's business performance, financial position and management.」
The company continues to identify the risk that a hostile takeover could damage corporate value and the common interests of shareholders. - FY2017RestatedAnnual report
「If a hostile takeover is carried out that clearly damages the group's corporate value and the common interests of its shareholders, there is concern that it may have an adverse effect on the group's business performance, financial position and management.」
The company continues to maintain measures addressing the risk that a hostile takeover could damage corporate value and the common interests of shareholders, targeting large-scale purchases of 20% or more. - FY2016First statedAnnual report
「If a hostile takeover is carried out that clearly damages the group's corporate value and the common interests of its shareholders」
This is a risk underlying the takeover defence measures. The threshold for a large-scale purchase is 20% or more, and if the measures are triggered, the voting interest may be diluted to a maximum of approximately 50%.