Weathernews TO UPDATE SHARE BUYBACK POLICY AT UPCOMING AGM

TOKYO, Jul 23 (Pulse News Wire) – Weathernews Inc. (4825.T) announced plans to update its share buyback policy aimed at preventing hostile takeovers at its upcoming annual general meeting scheduled for August 19, 2023.

The existing plan, set to expire in August 2026, includes measures such as requiring advance notice and information from potential buyers, and offering preemptive rights to issue subscription warrants to shareholders. Key changes to the updated plan include defining actions that establish cooperative relationships among shareholders and setting criteria to identify such behaviors. Additionally, language adjustments aim to make the plan clearer.

Independent outside directors fully support the update based on appropriate implementation. The revised policy seeks to protect the company's financial and operational decision-making process from inappropriate individuals while ensuring transparency and fairness. It also emphasizes the importance of shareholder interests and the company’s long-term value creation strategy.