Fear over a swarm of hostile takeover attempts by foreign firms has prompted the government to examine whether Japanese companies can adopt U.S.-made defensive measures under the nation's legal framework.
The Ministry of Economy, Trade, and Industry set up an advisory panel of legal specialists and company executives last month to discuss the issue.
The panel's launch coincided with an unusual competition in recent months between Mitsubishi Tokyo Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. to merge with ailing UFJ Holdings Inc.