March 22, 2021
Continuation of Policy Toward Large-Scale Purchases of GMO Shares (Takeover Defense Measures)
- GMO Internet, Inc.
Policy concerning Large-Scale Purchases of GMO shares has been adopted by the Board of Directors at a meeting held on March 13, 2006, and all the Directors have been in favor of the countermeasures. Since then, the initial GMO’s Board of Directors’ meeting, held after the Annual General Shareholders Meeting scheduled for every year, has decided to continue such policy.
After taking into consideration the amendment of the Companies Act of Japan and other relevant laws and regulations, judicial decision, responses from the financial instruments exchange and other public services, recent changes in the social and economic conditions, as well as progress in the debate on takeover defenses measures, GMO’s Board of Directors will revise the continuation and the content of the Policy in order to maintain and increase the common interests of GMO shareholders and GMO’s corporate value.
As a result, at the Board of Directors meeting - including three external directors - held on March 20, 2021, GMO has decided to continue the current policy. The effective period after continuation is from March 21, 2021, until the conclusion of the first meeting of the Board of Directors that will be held after the General Meeting of Shareholders in 2022.
Please refer to the material below for more details.