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Kusuri no Aoki Holdings Co. is engaged in a control dispute between the Aoki brothers and their largest shareholders, Aeon Co. and Oasis Management Co. The brothers have scheduled an emergency meeting for February 17 to propose a poison pill defense.

This tactic aims to protect their control amid declining trends in family-owned company defenses in Japan. Kusuri no Aoki is facing threats from Aeon, which seeks consolidation in the retail market, and Oasis, which has pursued legal action against the Aokis.

The brothers currently hold approximately 36% of shares, while Aeon and Oasis control about 26%. Institutional advisors recommend against the poison pill, highlighting governance concerns.