TOKYO, May 15 (Pulse News Wire) – NOZAWA CORPORATION (5237.T) decided to extend its share buyout policy until the end of the shareholders' meeting scheduled for June 26, 2026. The board approved the continuation of the policy at a meeting held on May 15, subject to shareholder approval at the upcoming annual general meeting on June 29, 2023.
The extended policy, known as the “Current Response Policy,” aims to ensure and enhance the company's value and shareholders’ interests. It includes measures such as requiring potential buyers to disclose detailed information and negotiate with the board before making significant acquisitions.
Additionally, the policy mandates independent committee oversight to prevent arbitrary decisions by the board. Under the revised plan, the effectiveness period would run from the date of shareholder approval through the conclusion of the regular shareholders' meeting in June 2029.
The policy also outlines procedures for handling large-scale share purchases, ensuring transparency and fairness in decision-making processes.
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