Announcement Concerning the Continuation of Takeover Defense Measures Against Attempts of Mass Acquisition of the Company's Shares
March 25, 2009
This document has been translated from the Japanese original, for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
It is our pleasure to announce that the Board of Directors of the Company, at its meeting held today, decided to continue implementing the Company's takeover defense measures (the "Plan") against attempts to acquire the Company's shares in massive numbers, in order to protect and increase the Company's corporate value and the shareholders' common interests.
The Company adopted the Plan by resolution of the Board of Directors at its meeting held on March 27, 2007, according to the contents approved by the shareholders at the 72nd General Meeting of Shareholders held on the same date (the "Shareholders' Approval upon Adoption"). These basic contents are disclosed in the "Announcement Concerning the Adoption of Takeover Defense Measure Against Attempts of Mass Acquisition of the Company's Shares (Defense Measures Against Takeover Bids)" in the press release dated February 6, 2007.
In the Plan, the effective term for the Shareholders' Approval upon Adoption is set as three years. During the effective term, the Board of Directors may determine the contents of the Plan on a yearly basis, within the scope authorized by the Shareholders' Approval upon Adoption. The basic contents of the Plan are identical to contents of the Plan adopted in 2007, although the Plan has been partially amended for the continuous implementation of the Plan in accordance with the enactment or amendment of relevant laws and regulations, including the conversion of all listed shares to electronic stock certificates in accordance with the enforcement of the "Law for Partial Amendments to the Law Concerning Book-Entry Transfer of Corporate Bonds and Other Securities for the Purpose of Streamlining the Settlement of Trades of Stocks and Other Securities" (Law No. 88, 2004).
The contents of the Plan are as follows. Note that Stock Acquisition Rights subject to the Plan are registered.