Risk of Large-Scale Purchases That Could Impair Corporate Value
First written in FY2017-Q1. 13 of 14 entries say "Restated". Latest entry: FY2027-H1.
101 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
Although the takeover defense measures have been abolished, the company continues to recognize the risks posed by large-scale purchases that could damage corporate value or the common interests of shareholders. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no occurrences of matters relating to the business and financial conditions described in the interim report that could materially affect investors' decisions, and no material changes to the "Business and Other Risks" described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes in business and other risks from those disclosed in the annual securities report for the previous fiscal year. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no occurrences of matters relating to the business and financial conditions described in the interim report that could materially affect investors' decisions, and no material changes to the "Business and Other Risks" described in the securities report for the previous fiscal year.」
The Company states that there have been no material changes in business and other risks from those disclosed in the annual securities report for the previous fiscal year. - FY2020-Q3RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2020-Q1RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. Under the response policy, an acquisition of 20% or more is treated as a large-scale purchase. - FY2019RestatedAnnual report
「Among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2019-Q2RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2019-Q1RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2018-Q3RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2018-Q2RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2018-Q1RestatedAnnual report
「However, among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2017-Q3RestatedAnnual report
「Among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues, without any material change, to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2017-Q2RestatedAnnual report
「Among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
The company continues to recognize the risk posed by large-scale purchases that could damage corporate value and the common interests of shareholders. - FY2017-Q1First statedAnnual report
「Among large-scale purchases, there are many that, based on their purpose and other factors, do not contribute to the target company's corporate value or the common interests of its shareholders, including: (1) those that clearly damage corporate value and, consequently, the common interests of shareholders; (2) those that may effectively force shareholders to sell their shares or other securities; (3) those that do not provide the target company's board of directors or shareholders with sufficient time or information to examine the details of the large-scale purchase or for the target company's board to propose an alternative; and (4) those that require discussions or negotiations with the acquirer to produce terms more favorable than those offered by the acquirer.」
Based on a framework treating acquisitions of 20% or more of the shares and tender offers as large-scale purchases, the company explains the potential damage to corporate value and the common interests of shareholders as a risk.