Japan Law Express

Japanese Law Blog

Wednesday, June 10, 2009

Surprising MBO

Chairman of Nippon RAD Inc. , a system developing company, suddenly announced stock tender offer to shareholders of Nippon RAD without contact with other board of directors.

The chairman, RYUICHI OTSUKA, is going to retire at shareholders’ meeting this month.

He said tender offer is for progressing the new project.

But the other directors are very confusing because it was too sudden.

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