Large-Scale Acquisition Activities That Could Damage Corporate Value and the Common Interests of Shareholders
First written in FY2017-Q1. 22 of 23 entries say "Restated". Latest entry: 2026-04-30.
The whole theme swung hardest in 2025: 3 of 26 companies on the "Worse" side.
86 other companies' latest entry also says "Restated".
- 2026-04-30RestatedGeneral Meetings of Shareholders
「The company does not categorically reject even large-scale acquisitions of its shares if they contribute to enterprise value and the common interests of shareholders.」
The basic policy was reiterated that large-scale acquisitions would not be categorically rejected if they contribute to enterprise value and the common interests of shareholders. - FY2025-H1RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The basic policy of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2025-Q1RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders.」
The basic policy of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2024RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders.」
The policy of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2024-Q3RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The basic approach of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2024-Q2RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The basic approach of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2023-Q3RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders.」
The basic policy of respecting the will of all shareholders regarding acquisition proposals and not categorically opposing acquisitions that contribute to corporate value and the common interests of shareholders was reiterated. - FY2022-Q3RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders.」
The basic approach of respecting shareholders’ wishes while treating large-scale share acquisitions that do not contribute to corporate value or the common interests of shareholders as a matter of concern was reiterated. - FY2022-Q2RestatedAnnual report
「The Company believes that, when an acquisition proposal involving the acquisition or transfer of control of the Company is made, the decision should ultimately be based on the will of all shareholders. The Company also does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The basic approach of respecting shareholders’ wishes while treating large-scale share acquisitions that do not contribute to corporate value or the common interests of shareholders as a matter of concern was reiterated. - FY2022-Q1RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2021-Q3RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2021-Q1RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2020RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, some large-scale share acquisitions, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2020-Q3RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2020-Q2RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that do not contribute to the target company’s corporate value or the common interests of its shareholders were reiterated. - FY2019-Q2RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that could impair corporate value and the common interests of shareholders were reiterated. - FY2018RestatedAnnual report
「However, some large-scale share acquisitions, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders, while others could effectively compel shareholders to sell their shares.」
The types of large-scale share acquisitions that could impair corporate value and the common interests of shareholders were reiterated. - FY2018-Q3RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that could impair corporate value and the common interests of shareholders were reiterated. - FY2018-Q1RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
The types of large-scale share acquisitions that could impair corporate value and the common interests of shareholders were reiterated. - FY2017RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, some large-scale share acquisitions, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders.」
Reiterated the types of large-scale acquisitions that could harm corporate value or the common interests of shareholders. - FY2017-Q3RestatedAnnual report
「The Company does not categorically oppose even an acquisition of a large number of shares if it would contribute to the Company’s corporate value and the common interests of its shareholders. However, many large-scale share acquisitions do not contribute to the target company’s corporate value or the common interests of its shareholders. These include acquisitions that, considering their purpose and other factors, would clearly harm corporate value and the common interests of shareholders; those that could effectively compel shareholders to sell their shares; those that fail to provide the target company’s board of directors or shareholders with sufficient time or information to examine the details of the large-scale share acquisition, or the target company’s board with sufficient time or information to propose alternatives; and those that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
Reiterated the types of large-scale acquisitions that could harm corporate value or the common interests of shareholders. - FY2017-Q2RestatedAnnual report
「However, among large-scale acquisitions of shares are many that do not contribute to the target company’s corporate value or the common interests of its shareholders, including acquisitions that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; and that fail to provide the target company with sufficient opportunity to negotiate with the acquirer.」
Reiterated the types of large-scale acquisitions that could harm corporate value or the common interests of shareholders. - FY2017-Q1First statedAnnual report
「Large-scale acquisitions of the Company’s shares that, in light of their purpose and other factors, would clearly harm corporate value or the common interests of shareholders; that could effectively coerce shareholders into selling their shares; that fail to provide the target company’s Board of Directors or shareholders with sufficient time or information to consider the details of the large-scale acquisition, or fail to provide the target company’s Board of Directors with sufficient time or information to propose alternatives; that fail to provide the target company with sufficient opportunity to negotiate with the acquirer; and other such acquisitions.」
Organized as a risk the possibility that a large-scale acquisition could harm corporate value or the common interests of shareholders. The takeover defense measures apply to acquisitions of 20% or more.