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Tokyo Kikai Drops Takeover Defense Plan

Tokyo Kikai Drops Takeover Defense Plan

   Tokyo, Nov. 25 (Jiji Press)--Japanese newspaper printing press maker Tokyo Kikai Seisakusho Ltd. <6335> said Thursday that it has dropped its plan to invoke a defense measure against a takeover bid by Asia Development Capital Co. <9318>.
   Tokyo Kikai thinks that it is no longer necessary to take the measure after the Tokyo-based investment company with about a 40 pct stake in Tokyo Kikai promised not to buy any more shares in the newspaper printing press maker.

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AFP-JIJI PRESS NEWS JOURNAL


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