Keio Corporation to abolish takeover defense measures

Keio Corporation (TSE:9008) announced its decision to abolish its Basic Policy regarding Countermeasures to Large-Scale Acquisitions of Company Shares, also known as its takeover defense measures, effective at the conclusion of its 104th ordinary general meeting of shareholders on June 26, 2025. The company introduced the Basic Policy in 2007 to enhance corporate value and protect the common interests of its shareholders. Upon expiration of the Basic Policy, the board carefully considered shareholder opinions, recent trends in takeover defense, and changes in the business environment before deciding to discontinue the measures. Consequently, Keio Corporation will also propose amendments to its Articles of Incorporation at the upcoming shareholder meeting. The changes involve the deletion of Article 18, which pertains to the takeover defense measures, and a subsequent renumbering of the remaining articles.