Nippon Hume to End Acquisition Defense Measures and Amend Articles of Incorporation

TOKYO, Apr 24 (Pulse News Wire) – Nippon Hume Corporation (5262.T) decided at its board meeting held on April 24 to end its acquisition defense measures effective upon conclusion of its 143rd Ordinary General Meeting scheduled for June 26, 2026. The company also plans to amend certain provisions in its articles of incorporation, including reducing the term of directors' tenure from two years to one year.

The acquisition defense measures, which have been in place since March 2008, will cease due to changes in the operating environment and shareholder opinions. Following their discontinuation, the company will remove Article 10 related to these measures from its articles of incorporation. Additionally, the company will introduce new provisions allowing the board of directors to decide on dividend distributions without requiring shareholders' approval, except where otherwise mandated by law.

Furthermore, the amendment includes setting the final dividend payment base date as March 31 annually, while removing the provision for interim dividends paid on September 30. The transition period for directors appointed at the 142nd Ordinary General Meeting on June 27, 2025, will remain unchanged until March 31, 2027. The proposed amendments will take effect on June 26, 2026, subject to shareholder approval during the upcoming general meeting.