Sankyo Kasei Extends Share Buyback Defense Plan Until 2029

TOKYO, May 13 (Pulse News Wire) – Sankyo Kasei Corporation (8138.T) resolved at its board meeting on May 13 to extend its existing share buyback defense plan until the end of the fiscal year ending March 31, 2029. The updated plan, known as the “Share Buyback Behavior Response Policy,” requires significant buyers to disclose detailed information and obtain approval from shareholders.

Under the revised policy, large-scale buyers must submit a declaration letter outlining their intentions and provide comprehensive information within ten trading days. This includes details such as the buyer’s background, purpose of acquisition, and proposed actions post-acquisition. Additionally, the company's independent committee will evaluate these proposals and advise the board on whether to implement countermeasures against acquisitions deemed harmful to shareholder interests.

The extended plan also mandates that major buyers adhere strictly to predefined rules set forth by the company prior to making any substantial purchases. Failure to comply could result in immediate countermeasures being implemented by the board to protect the company's value and shareholder interests. This update reflects the company's commitment to maintaining long-term growth and protecting its business model centered around technology-driven sales activities and sustainable development initiatives.