Livedoor Co. President Takafumi Horie said Thursday he welcomes the capital market regulations set to be introduced in the wake of his firm's controversial bid to acquire Nippon Broadcasting System Inc.
"I believe mergers and acquisitions will increase because everyone will be able to play fair" thanks to such regulations, he told a packed crowd at the Foreign Correspondents' Club of Japan. "It is a good thing that the necessary regulations will be put in place. There have been too many loopholes."
An advisory panel to the Financial Services Agency approved a government proposal the same day to ban the use of off-hours trading to acquire stakes of one-third or more in another company. A bill on the matter will be submitted to the Diet.