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Kusuri no Aoki Holdings Co., led by brothers Hironori and Takanori Aoki, is facing a control battle against Aeon Co. and Oasis Management Co. They have called an emergency meeting on Feb. 17 to discuss a poison pill defense aimed at diluting the holdings of their largest shareholders.

This struggle reflects a broader trend in Japan's corporate landscape, where founding families often lose control. The outcome may influence future activism against family-owned firms.