Japan's surprise poison-pill warning.

The article reports that the Japanese government has warned against poison pills and other defensive measures by corporates. The government released a consultation paper on August 8, which stated that measures aimed at protecting their own interests by croporates could have a negative effect on productivity and in the long run fail to raise corporate efficiency. The paper, released by the Cabinet Office is at odds with the stance taken by the country's courts in recent weeks. In their dealings with Bull-Dog Sauce Co.'s poison pill administered to U.S. hedge fund Steel Partners LP' unsolicited takeover bid, the Tokyo District Court, Tokyo's High Court and finally Japan's Supreme Court all rejected Steel Partners appeal.