On the 29th, the Tokyo District Court ruled that the investment company on the acquiring side would dismiss the petition for provisional disposition that the investment company on the acquiring side had sought to suspend the takeover defense measures introduced by the newspaper rotary press manufacturer Tokyo Kikai Seisakusho.
Regarding Tokyo Kikai Seisakusho, which handles the turning point of newspapers, the investment company "Asia Development Capital" bought a large amount of shares through its subsidiary and became the largest shareholder holding about 40% of the shares. Acquisition ".
In response, Tokyo Kikai consulted and passed an extraordinary general meeting of shareholders on the 22nd of this month to implement a takeover defense measure called "poison pill" in order to reduce the voting rights ratio for Asian development.
Asia Development on the acquisition side has filed a provisional disposition seeking an injunction, saying that it "violates the principle of shareholder equality" regarding this takeover defense measure, but the Tokyo District Court said on the 29th, "Most of the shareholders at the general meeting of shareholders. Has approved it as a necessary measure to prevent damage to corporate value. "
The Asian development side has said that it will soon appeal to the Tokyo High Court, dissatisfied with this decision.
Tokyo Kikai occupies 40% of the share of newspaper rotary presses, and about 40 newspaper companies nationwide said, "It may have a significant impact on the social infrastructure that supports the publication of newspapers in Japan." He expressed concern.