TOKYO, May 15 (Pulse News Wire) – Kyokuyo CO.,LTD. (1301.T) decided today to discontinue its share buyback defense plan effective at the conclusion of its 103rd Ordinary General Meeting scheduled for June 24, 2026.
The decision was made during a board meeting held. The existing plan had been approved by shareholders at the company's 100th Ordinary General Meeting on June 27, 2023, and had remained in effect since then. Following the introduction of the plan, KYOKUYO continuously reviewed its approach considering changes in socio-economic conditions, developments around takeover defenses, and various discussions. The company concluded that regulatory frameworks governing corporate acquisitions have matured, reducing the necessity of the current plan.
Additionally, taking into account dialogues with domestic and international institutional investors and other shareholders, the board resolved to terminate the plan upon the conclusion of the upcoming general meeting. Despite discontinuing the plan, KYOKUYO stated it remains committed to protecting shareholder interests. In cases where significant share purchases pose risks to the company’s value or collective shareholder benefits, the firm intends to request adequate time and information from the acquirer for shareholders to make informed decisions. It also reserves the right to implement appropriate measures within legal boundaries, including alternative defensive strategies.
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