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Japanese companies cannot use national security cover to block takeovers, official says

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Alimentation Couche-Tard,Finance Ministry,Listed Companies

Japanese companies cannot use a national security designation as a tool to thwart foreign takeovers, a senior finance ministry official said, pushing back at...

Japanese companies cannot use a national security designation as a tool to thwart foreign takeovers, a senior finance ministry official said, pushing back at speculation Tokyo's foreign exchange act could be manipulated for protectionism. The comments follow media reports retail giant Seven & i Holdings is seeking to be classified as "core" to national security under the Foreign Exchange and Foreign Trade Act to fend off a buyout bid from Canada's Alimentation Couche-Tard.

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