Introduction of Takeover Defense Measures Against Large-Scale Purchases
First written in FY2020. 1 of 2 entries say "Dropped", first in FY2021-Q3. Latest entry: FY2021-Q3.
- FY2021-Q3DroppedAnnual report
「At an Extraordinary General Meeting of Shareholders held on 6 November 2020, the Company resolved to abolish this plan.」
The Company abolished the measures for responding to large-scale purchases (takeover defense measures) approved at the Annual General Meeting of Shareholders in June 2020 at an Extraordinary General Meeting of Shareholders held on 6 November 2020. - FY2020First statedAnnual report
「At a meeting of the Board of Directors held on 25 May 2020, the Company resolved to introduce the "Basic Policy Regarding the Approach to Persons Controlling Decisions on the Company's Financial and Business Policies" and the "Measures to Prevent Decisions on the Company's Financial and Business Policies from Being Controlled by Inappropriate Persons in Light of the Basic Policy (Takeover Defense Measures)." The measures were approved by shareholders at the Company's 60th Annual General Meeting of Shareholders held on 25 June 2020. The acts covered by this plan generally consist of the purchase of 20% or more of the Company's share certificates or other securities, other paid acquisitions, or similar acts (collectively, "Large-Scale Purchases"). The plan will remain in effect from the conclusion of this Annual General Meeting of Shareholders until the conclusion of the Annual General Meeting of Shareholders relating to the last fiscal year ending within 3 years thereafter.」
The Company introduced takeover defense measures targeting large-scale purchases of 20% or more following approval by the Board of Directors in May 2020 and the shareholders meeting in June. The measures include establishing an independent committee and countermeasures such as the gratis allotment of stock acquisition rights, with an effective period of approximately 3 years at most.