On October 29, 2021, Tokyo Kikai Seisakusho Ltd on October 22, 2021, won a major court victory in its quest to use a poison pill defense against Asia Development Capital, a closely watched ruling that could make hostile bids in Japan far more difficult. The Tokyo District Court rejected a request for an interim injunction from Asia Development Capital, saying the investment firm?s purchases of shares in Japan?s biggest manufacturer of printing presses for newspapers could be seen as potentially coercive. It noted that ADC had quickly built up its 40% stake despite warnings from the Company and has not presented the company with a new management plan. The court also said that actions taken to exclude ADC from a vote by the Company shareholders on whether to adopt the poison pill were not unreasonable, as the vote was designed to allow other shareholders to judge whether the acquisition would hurt their interests or not.