Asia
Nippon Hume to Scrap Anti-Takeover Measures
Nippon Hume (TYO:5262) is abolishing its anti-takeover measures and proposing governance changes including shorter director terms, according to a Friday filing on the Tokyo Stock Exchange.The company will discontinue the policy at its June 26 shareholder meeting, removing related provisions from its articles after a review of investor views and market trends.Nippon Hume will cut directors' terms to one year from two to strengthen accountability and enable faster responses to business changes, while adding provisions to allow the board to decide dividends.The amendments, including deletion of takeover defense clauses and related technical changes, are scheduled to take effect on June 26 pending shareholder approval.
TYO:5262
