Renewal and reintroduction of a trust-based rights plan
First written in FY2017-Q1. 12 of 18 entries say "Restated". Latest entry: FY2026.
Shibuya moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
16 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「To secure and enhance the corporate value of the Company and the common interests of its shareholders, the Company updated its response policy to large-scale acquisitions of the Company's share certificates and other securities (policy for responding to takeovers) (the "Response Policy") pursuant to resolutions of the Company's Board of Directors meeting held on 13 August 2025 and the Company's ordinary general meeting of shareholders for the 77th fiscal year held on 25 September 2025.」
After the details of the Rights Plan became inapplicable in 2023, the framework was updated to the "policy for responding to takeovers" based on the resolutions of August and September 2025. It applies to acquirers seeking to acquire 20% or more, and has an effective period of approximately 3 years. - FY2023DroppedAnnual report
「② [Details of the Rights Plan] There are no applicable matters.」
After the exercise period for the Fifth Trust-Type Rights Plan expired, the document states that there are no applicable matters concerning the details of the Rights Plan. - FY2023-Q1Lapse of the Fifth New Share Subscription Rights upon expiration of the exercise periodAnnual report
「Fifth Trust-Type Rights Plan The new share subscription rights (50,000 thousand shares) lapsed upon expiration of the exercise period on 30 September 2022.」
The document states that the 50 million new share subscription rights under the Fifth Trust-Type Rights Plan lapsed upon expiration of the exercise period on 30 September 2022. - FY2022ReframedAnnual report
「To secure and enhance the corporate value of the Company and the common interests of its shareholders, the Company introduced a response policy to large-scale acquisitions of the Company's share certificates and other securities (takeover defense measure) (the "Plan") pursuant to resolutions of the Company's Board of Directors meeting held on 31 August 2022 and the Company's ordinary general meeting of shareholders for the 74th fiscal year held on 28 September 2022.」
In addition to the description of the Fifth Trust-Type Rights Plan, the framework has shifted to a new response policy for large-scale acquisitions based on the resolutions of the Board of Directors and general meeting of shareholders held in August and September 2022. The Plan applies to acquirers seeking to acquire 20% or more, and has an effective period of approximately 3 years. - FY2021RestatedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2019 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fifth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 1 October 2019 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 71st Annual General Meeting of Shareholders held on 26 September of the same year.」
The filing reiterates the Fifth Trust-Type Rights Plan, the issuance of 50,000,000 subscription rights and approval by the General Meeting of Shareholders. - FY2020RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fifth Trust-Type Rights Plan Subscription Rights were issued without consideration on 1 October 2019 and all allocated to Sumitomo Mitsui Trust Bank, Limited. This was approved at the 71st Annual General Meeting of Shareholders held on 26 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 1 October 2019 to 30 September 2022.」
The full-year report reiterates the Fifth Trust-Type Rights Plan, 50,000,000 subscription rights, and the exercise period from October 2019 to September 2022. - FY2020-Q3RestatedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2019 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fifth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 1 October 2019 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 71st Annual General Meeting of Shareholders held on 26 September of the same year.」
The filing continues to describe the Fifth Trust-Type Rights Plan, the issuance of 50,000,000 subscription rights and approval by the General Meeting of Shareholders. - FY2020-Q2AdvancedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2019 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fifth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 1 October 2019 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 71st Annual General Meeting of Shareholders held on 26 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 1 October 2019 to 30 September 2022.」
The trust-type rights plan was updated and reintroduced from the fourth to the fifth plan, and 50,000,000 subscription rights were issued. The exercise period is the 3-year period from 1 October 2019 to 30 September 2022. - FY2019-Q3RestatedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2016 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the trust-type rights plan, the issuance of 50,000,000 subscription rights and an exercise period of generally 3 years. - FY2019-Q2RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the trust-type rights plan, the issuance of 50,000,000 subscription rights and an exercise period of generally 3 years. - FY2019-Q1RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the update and reintroduction of the trust-type rights plan, the issuance of 50,000,000 subscription rights, and an exercise period of generally 3 years. - FY2018RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the trust-type rights plan, the issuance of 50,000,000 subscription rights and an exercise period of generally 3 years. - FY2018-Q3RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year.」
The filing continues to describe the trust-type rights plan, the issuance of 50,000,000 subscription rights and an exercise period of generally 3 years. - FY2018-Q2RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the update and reintroduction of the trust-type rights plan, the issuance of 50,000,000 subscription rights, and an exercise period of generally 3 years. - FY2018-Q1RestatedAnnual report
「As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for the Subscription Rights is, in principle, the 3-year period from 30 September 2016 to 30 September 2019.」
The filing continues to describe the update and reintroduction of the trust-type rights plan, the issuance of 50,000,000 subscription rights, and an exercise period of generally 3 years. - FY2017-Q3RestatedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2016 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year.」
The filing describes the update and reintroduction of the trust-type rights plan and the issuance of 50,000,000 subscription rights with the same content. - FY2017-Q2RestatedAnnual report
「For the purpose of securing and enhancing corporate value and the common interests of shareholders, the Company resolved at a meeting of its Board of Directors held on 29 August 2016 to update and reintroduce a rights plan using subscription rights and a trust, referred to below as the trust-type rights plan. As part of the trust-type rights plan, 50,000,000 Fourth Trust-Type Rights Plan Subscription Rights, referred to below as the Subscription Rights, were issued without consideration on 30 September 2016 and all allocated to Sumitomo Mitsui Trust Bank, Limited, referred to below as the Trust Bank. This was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year.」
The filing describes the update and reintroduction of the trust-type rights plan and the issuance of 50,000,000 subscription rights with the same content. - FY2017-Q1First statedAnnual report
「To secure and enhance corporate value and the common interests of shareholders, the Company resolved at a Board meeting held on 29 August 2016 to renew and reintroduce a rights plan using stock acquisition rights and a trust. As part of the trust-based rights plan, 50,000,000 Fourth Trust-Based Rights Plan Stock Acquisition Rights were issued without consideration on 30 September 2016 and allocated in their entirety to Sumitomo Mitsui Trust Bank, Limited. This allocation was approved at the 68th Annual General Meeting of Shareholders held on 28 September of the same year. The exercise period for these stock acquisition rights is generally 3 years, from 30 September 2016 through 30 September 2019.」
The Company reintroduced a structure under which 50 million stock acquisition rights are issued using a trust and may be delivered to ordinary shareholders if an acquirer emerges. The exercise period is generally 3 years.