Update to Measures to Address Large-Scale Acquisition Actions (Takeover Defense Measures)
First written in FY2017-Q1. 23 of 27 entries say "Restated". Latest entry: 2026-06-10.
- FY2026-H1AdvancedAnnual report
「At the Annual General Meeting of Shareholders held on 29 May 2025, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
Following shareholder approval and a Board of Directors resolution on 29 May 2025, the takeover defense measures were renewed as a “Policy for Responding to Takeovers.” The framework applies to acquisitions of 20% or more and provides for a special committee composed of independent outside directors, a general meeting to confirm shareholders’ wishes, and a 3-year effective period. - FY2025-H1RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The scope of application of the takeover defense measures renewed on 26 May 2022, covering acquisitions of 20% or more, was reiterated. - FY2025-Q1RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures renewed on 26 May 2022 and the continuation of the Plan were reiterated. They apply to acquisitions of 20% or more, and the effective period is 3 years. - FY2024RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures renewed on 26 May 2022 and the continuation of the Plan were reiterated. - FY2024-Q3RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures renewed on 26 May 2022 and the subsequent Plan were reiterated. They apply to acquisitions of 20% or more, and the effective period is 3 years. - FY2024-Q2RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures renewed on 26 May 2022 were reiterated. They apply to acquisitions of 20% or more, and the effective period is 3 years. - FY2023-Q3RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures renewed on 26 May 2022 and the subsequent Plan were reiterated. - FY2022AdvancedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2022, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The Company changed from the takeover defense measures renewed in 2019 to the Plan renewed following shareholder approval and a Board of Directors resolution on 26 May 2022. The Plan applies to acquisitions of 20% or more, and the effective period was set at 3 years. - FY2022-Q3RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The takeover defense measures renewed on 23 May 2019 and their scope of application to acquisitions of 20% or more were reiterated. - FY2022-Q2RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.” The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The takeover defense measures renewed on 23 May 2019 and their scope of application to acquisitions of 20% or more were reiterated. - FY2022-Q1RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The scope of application of the takeover defense measures renewed on 23 May 2019, covering acquisitions of 20% or more, was reiterated. - FY2021-Q3RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The takeover defense measures renewed on 23 May 2019 and their scope of application to acquisitions of 20% or more were reiterated. - FY2021-Q1RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.” The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The takeover defense measures renewed on 23 May 2019 and their scope of application to acquisitions of 20% or more were reiterated. - FY2020RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions. At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on this basic takeover defense policy.」
The details of the takeover defense measures renewed following shareholder approval and a Board of Directors resolution on 23 May 2019 were reiterated. - FY2020-Q3RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The details of the takeover defense measures renewed following shareholder approval and a Board of Directors resolution on 23 May 2019 were reiterated. - FY2020-Q2RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The details of the takeover defense measures renewed following shareholder approval and a Board of Directors resolution on 23 May 2019 were reiterated. - FY2019AdvancedAnnual report
「At the Annual General Meeting of Shareholders held on 23 May 2019, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The takeover defense measures were renewed following shareholder approval and a Board of Directors resolution on 23 May 2019. As before, they apply to acquisitions of 20% or more, and the effective period was set at 3 years. - FY2019-Q2RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The scope of application of the takeover defense measures, covering acquisitions of 20% or more, was reiterated. - FY2018RestatedAnnual report
「The Plan applies to (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; and (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more.」
The scope of application of the existing Plan, including its coverage of acquisitions of 20% or more, was reiterated. - FY2018-Q3RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The scope of application of the existing Plan, including its coverage of acquisitions of 20% or more, was reiterated. - FY2018-Q1RestatedAnnual report
「The Plan applies when there is (i) a purchase or other acquisition of shares or other securities issued by the Company that would result in the holder’s shareholding ratio of shares or other securities reaching 20% or more; (ii) a tender offer for shares or other securities issued by the Company in which the total shareholding ratio of the tender offeror and its specially related parties reaches 20% or more; or (iii) an act similar to either of the foregoing or a proposal thereof. These are collectively referred to as “Acquisitions.”」
The scope of application of the existing Plan, including its coverage of acquisitions of 20% or more, was reiterated. - FY2017RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2016, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions. At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on this basic takeover defense policy.」
The renewed takeover defense measures approved by the General Meeting of Shareholders were reiterated. - FY2017-Q3RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2016, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The renewed takeover defense measures approved by the General Meeting of Shareholders were reiterated. They apply to acquisitions of 20% or more and have a specified effective period. - FY2017-Q2RestatedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2016, shareholders approved, pursuant to the Company’s Articles of Incorporation, a proposal to determine the content of the basic policy for introducing or renewing measures in response to large-scale share acquisitions (the “Basic Takeover Defense Policy”). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on the Basic Takeover Defense Policy, hereinafter referred to as the “Plan.”」
The renewed takeover defense measures approved by the General Meeting of Shareholders were reiterated. They apply to acquisitions of 20% or more and have a specified effective period. - FY2017-Q1First statedAnnual report
「At the Annual General Meeting of Shareholders held on 26 May 2016, shareholders approved, pursuant to the Company’s Articles of Incorporation, the submission to the General Meeting of Shareholders of a proposal concerning the basic policy for introducing or renewing measures in response to large-scale share acquisitions (takeover defense measures). At the meeting of the Company’s Board of Directors held on the same day, the Board decided on specific measures based on this basic takeover defense policy, hereinafter referred to as the “Plan.”」
The takeover defense measures were renewed following shareholder approval. They apply to acquisitions of 20% or more and use a special committee and share acquisition rights.