Update to Measures in Response to Large-Scale Purchases
First written in FY2016. 8 of 10 entries say "Restated". Latest entry: FY2020-Q1.
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
35 other companies' latest entry also says "Dropped".
- FY2020-Q1DroppedAnnual report
「The Company decided and announced the "Measures in Response to Large-Scale Acquisitions of the Company's Shares (Takeover Defense Measures)" in 2006 and most recently updated them in 2016 (the "Plan"). Although the Company had long worked to strengthen corporate governance, after considering the views of shareholders, including institutional investors in Japan and overseas, and the business and market environments surrounding the Company, the Board of Directors resolved at its meeting held on 16 May 2019 to abolish the Plan upon the conclusion of the Annual General Meeting of Shareholders held on 27 June 2019.」
The takeover defense measures updated in 2016 were abolished upon the conclusion of the Annual General Meeting of Shareholders on 27 June 2019. - FY2019-Q3RestatedAnnual report
「As a general rule, this plan applies when there is an acquisition or other purchase of the Company's shares or other securities that falls under either (i) an acquisition or other purchase resulting in the holder's shareholding ratio of the Company's shares or other securities reaching 20% or more, or (ii) a tender offer in which the combined shareholding ratio of the person conducting the tender offer and its specially related parties reaches 20% or more, as well as similar actions (collectively, an "Acquisition, etc.").」
Reiterates the updated takeover defense measures covering acquisitions of 20% or more and the related procedures. - FY2018RestatedAnnual report
「As a general rule, this plan applies when there is an acquisition or other purchase of the Company's shares or other securities that falls under either (i) an acquisition or other purchase resulting in the holder's shareholding ratio of the Company's shares or other securities reaching 20% or more, or (ii) a tender offer in which the combined shareholding ratio of the person conducting the tender offer and its specially related parties reaches 20% or more, as well as similar actions (collectively, an "Acquisition, etc.").」
Reiterates the updated takeover defense measures covering acquisitions of 20% or more and the securing of information, time, and opportunities for negotiations. - FY2018-Q3RestatedAnnual report
「As a general rule, this plan applies when there is an acquisition or other purchase of the Company's shares or other securities that falls under either (i) an acquisition or other purchase resulting in the holder's shareholding ratio of the Company's shares or other securities reaching 20% or more, or (ii) a tender offer in which the combined shareholding ratio of the person conducting the tender offer and its specially related parties reaches 20% or more, as well as similar actions (collectively, an "Acquisition, etc.").」
Reiterates the updated takeover defense measures, including a 20% or more threshold for covered acquisitions, the securing of information and time, review by an independent committee, and a generally 3-year validity period. - FY2018-Q2RestatedAnnual report
「This plan aims to protect and enhance corporate value and the common interests of shareholders by securing the information and time necessary for shareholders to make an appropriate decision when a large-scale acquisition of the Company's shares occurs, as well as opportunities to negotiate with the acquirer.」
Reiterates the updated takeover defense measures, including the securing of information and time, opportunities to negotiate with the acquirer, application to acquisitions of 20% or more, and a generally 3-year validity period. - FY2018-Q1RestatedAnnual report
「This plan aims to protect and enhance corporate value and the common interests of shareholders by securing the information and time necessary for shareholders to make an appropriate decision when a large-scale acquisition of the Company's shares occurs, as well as opportunities to negotiate with the acquirer.」
Reiterates the purpose of the updated takeover defense measures, their application to acquisitions of 20% or more, and the securing of information and time, among other matters. - FY2017RestatedAnnual report
「This plan aims to protect and enhance corporate value and the common interests of shareholders by securing the information and time necessary for shareholders to make an appropriate decision when a large-scale acquisition of the Company's shares occurs, as well as opportunities to negotiate with the acquirer.」
Reiterates the purpose of the takeover defense measures updated in June 2016, their application to acquisitions of 20% or more, and their generally 3-year validity period. - FY2017-Q3RestatedAnnual report
「This plan aims to protect and enhance corporate value and the common interests of shareholders by securing the information and time necessary for shareholders to make an appropriate decision when a large-scale acquisition of the Company's shares occurs, as well as opportunities to negotiate with the acquirer.」
Reiterates the purpose of the updated takeover defense measures and states that no changes to the measures were disclosed for the current quarter. - FY2017-Q2RestatedAnnual report
「As a general rule, this plan applies when there is an acquisition or other purchase of the Company's shares or other securities that falls under either (i) an acquisition or other purchase resulting in the holder's shareholding ratio of the Company's shares or other securities reaching 20% or more, or (ii) a tender offer in which the combined shareholding ratio of the person conducting the tender offer and its specially related parties reaches 20% or more, as well as similar actions, including proposals for such actions (collectively, an "Acquisition, etc."). Persons seeking to conduct an Acquisition, etc. (the "Acquirer, etc.") must follow the procedures prescribed in this plan in advance. In principle, the plan remains valid until the conclusion of the Annual General Meeting of Shareholders relating to the last fiscal year ending within 3 years after the conclusion of the 83rd Annual General Meeting of Shareholders.」
Reiterates the updated takeover defense measures, including the 20% or more threshold for covered acquisitions, the procedures, and a validity period of generally 3 years. - FY2016First statedAnnual report
「The Company resolved to update its measures in response to large-scale acquisitions of its shares (takeover defense measures).」
The measures, covering acquisitions of 20% or more, are being updated to secure information, time, and opportunities for negotiations. The validity period is generally 3 years.