An article by Tetsuya Ishida, titled “Commentary on the Revision of the TSE Listing Rules ‘Corporate Code of Conduct’ Regarding MBOs and Related Matters,” was published on “BUSINESS LAWYERS.”
Commentary on the Revision of the TSE Listing Rules ‘Corporate Code of Conduct’ Regarding MBOs and Related Matters – BUSINESS LAWYERS
1. Overview of the Revision of Listing Rules
1-1. Background, History, and Purpose of the Revision
1-2. Timing of Enforcement
2. Main Items of Revision and Impact on Companies
2-1. Overview
2-2. Impact
3. Expansion of Covered Actions
3-1. Requirement to Obtain Opinions from Parties Unaffiliated with Controlling Shareholders
3-2. Full Subsidiarization Transactions by Other Related Companies, etc.
4. Enhancement of the Functions of Special Committees
4-1. Clarification of the Main Body
4-2. Contents of Opinions to Be Obtained
4-3. Process for Examining Opinions
4-4. Attachment of Opinion Letters
5. Expansion of Information Disclosure
5-1. Expansion of Situations Requiring the Disclosure of Detailed Financial Forecasts
5-2. Expansion of Information Subject to Disclosure 6. Development of IR Systems
