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Business trends

Corporate Japan inches away from takeover defenses

Shareholder criticism spurs companies to drop their guard

A recent survey found that fewer Japanese companies are relying on takeover defenses to see off activist investors. (Photo by Kosaku Mimura)

TOKYO -- More listed Japanese companies are doing away with their takeover defenses in response to mounting criticism from investors, who see the measures as protecting management and hindering opportunities to increase corporate value, according to a recent survey.

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