The newspaper rotary press maker Tokyo Kikai Seisakusho has decided to implement takeover defense measures against an investment company that holds about 40% of the shares, but the investment company has pledged to reduce the shareholding ratio, so defense Announced that it reserves the implementation of the measures.
Regarding Tokyo Kikai Seisakusho, which handles the rotary press of newspapers, the investment company "Asia Development Capital" has become the largest shareholder by purchasing a large amount of shares through its subsidiary and holding about 40% of the shares.
Tokyo Kikai decided to implement takeover defense measures in order to reduce the voting rights ratio for Asian development, and it was scheduled to take effect from the 19th.
In response, Asian Development has filed a provisional disposition seeking an injunction, but the Tokyo District Court and the Tokyo High Court have rejected the petition and are waiting for the Supreme Court's decision.
Under these circumstances, on the 17th, Asia Development issued a pledge to Tokyo Machinery to reduce the shareholding ratio to 32.72% or less, which is a condition for reservation of defense measures, in order to avoid disadvantages due to the activation of takeover defense measures. I put it in.
In response to this, Tokyo Kikai has decided to withhold the invocation of takeover defense measures, and will scrutinize the pledge in the future to see if the need for defense measures has disappeared.
On the other hand, Asia Development has stated that it is still aiming to acquire management control, and after lowering the ownership ratio, it is clear that it is considering conducting a tender offer for shares. Did.