OSAKA (Kyodo) Hankyu Holdings Inc. plans to issue equity warrants should any shareholder with a stake of 20 percent or more launch a hostile bid against it, company officials said Friday.

The move appears to be designed to deter Privee Zurich Turnaround Group Co., which became Hankyu's leading shareholder earlier this month, according to observers.

The new plan is a stopgap measure that will be in effect until the major railway group convenes its June shareholders' meeting, company sources said.