Takeover Defense Plan Against Large-Scale Purchases of 20% or More
First written in FY2016. 2 of 4 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
35 other companies' latest entry also says "Dropped".
- FY2019DroppedAnnual report
「In light of recent developments concerning takeover defenses and changes in the business environment surrounding the company, we decided not to continue the measures addressing large-scale purchases as of the close of the annual general meeting of shareholders held on 22 June 2019.」
At the conclusion of the Annual General Meeting of Shareholders held on 22 June 2019, the Company stated its policy of not continuing its response measures against large-scale purchases of shares. It stated that, after discontinuing the measures, it would take appropriate action to the extent permitted by law. - FY2018RestatedAnnual report
「We have established certain rules concerning the provision of information and other matters when a proposal for a large-scale purchase is made, referred to below as the “Large-Scale Purchase Rules,” and have introduced this plan, which sets out procedures for triggering countermeasures, as an initiative to prevent inappropriate purchasers, under the basic policy described in (2) ① above, from controlling decisions on the company's financial and business policies.」
The company continues to describe a takeover defense plan including large-scale purchase rules, information provision, securing time for review, and procedures for countermeasures. - FY2017RestatedAnnual report
「We have established certain rules concerning the provision of information and other matters when a proposal for a large-scale purchase is made, referred to below as the “Large-Scale Purchase Rules,” and have introduced this plan, which sets out procedures for triggering countermeasures, as an initiative to prevent inappropriate purchasers, under the basic policy described in (2) ① above, from controlling decisions on the company's financial and business policies.」
The company continues to describe a takeover defense plan including large-scale purchase rules, information provision, securing time for review, and procedures for countermeasures. - FY2016First statedAnnual report
「The purpose of this plan is to secure sufficient information and time for shareholders to make an appropriate decision on whether to accept purchases of the company's shares and other securities intended to result in a specified holder of shares and other securities attaining a voting interest of 20% or more, or purchases that would result in such a voting interest reaching 20% or more.」
The company states its policy of introducing a plan covering large-scale purchases that would result in a voting interest of 20% or more, combining information provision, a review period, an independent committee, a general meeting of shareholders, and a gratis allotment of stock acquisition rights.