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News Release

Update of Basic Policy on Company Control and Countermeasures against Large-Scale Purchase of the Company’s Shares (Anti-Takeover Measures)

  • IR
The effective period of the Countermeasures against Large-Scale Purchase of the Company’s Shares (hereafter the “Countermeasures”) introduced at the board of directors meeting held on August 10, 2007 and approved by shareholders in the 31st General Meeting of Shareholders held on September 27, 2007 as well as in the 34th General Meeting of Shareholders held on September 29, 2010 is until the end of the 37th General Meeting of Shareholders scheduled to be held in September 2013. In light of changes in the social and economic climate, various trends concerning the anti-takeover measures and progress in various discussions, the company has continually deliberated ideas including the pros and cons of continuing the Countermeasures after it had been introduced as a measure to secure and increase corporate value and eventually the common interests of the shareholders.
 
As a result it was decided at the board of directors meeting held on August 9, 2013 that, in light of the company’s basic policy regarding persons who control decisions for financial and business policies stipulated in Article 118 Clause 3 of the Ordinance for Enforcement of the Company Law, and as a measure to prevent control of decisions for financial and business policies by inappropriate persons, the Countermeasures would be continued with partial change.