The Tokyo Stock Exchange faces scrutiny over protecting minority shareholders in management buyouts. New rules require companies to disclose procedures and price fairness. Concerns arise as some deals are viewed as unfair to investors. The number of MBOs has hit 20 this year, exceeding the 2011 record. The TSE vows to consider necessary measures. Investors want high valuations in MBOs. Some deals are questioned for low offer prices. Companies defend prices based on book value ratios. Challenges remain in requiring full disclosure. The rules may reduce appeal of Japan’s stock market.

Read more at Yahoo Finance: Tokyo Bourse Pressed for More Disclosure on Management Buyouts