Improving Capital Efficiency and Enhancing Shareholder Returns through a Tender Offer for Treasury Shares
First written in FY2018-Q3. 2 of 3 entries say "Advanced", first in FY2018. Latest entry: FY2019-Q2.
95 other companies' latest entry also says "Advanced".
- FY2019-Q2AdvancedAnnual report
「The company records the shares remaining in the trust as treasury shares under net assets at their carrying amount in the trust, excluding incidental costs. At the end of the second quarter of the current consolidated fiscal year, the carrying amount and number of these treasury shares were ¥588 million and 275,000 shares, respectively.」
For the Board Benefit Trust (BBT), the company records 275,000 shares held by the trust with a carrying amount of ¥588 million, indicating that the scheme has moved into the operational phase. - FY2018AdvancedAnnual report
「During the fiscal year, the company acquired 826,000 treasury shares for a total consideration of ¥1,613 million.」
The company acquired 826,000 shares through the tender offer for treasury shares resolved on 1 February 2018, at an acquisition cost of ¥1,613 million. The acquisition proceeded to completion against the maximum of 850,000 shares. - FY2018-Q3First statedAnnual report
「At a meeting of its board of directors held on 1 February 2018, the company resolved to conduct a tender offer for treasury shares as the specific method of acquiring treasury shares under Article 165, paragraph 3 of the Companies Act, which is applied by replacing certain terms under Article 156, paragraph 1 of the same Act, and under the provisions of the company's Articles of Incorporation.」
As a significant subsequent event after the filing date, the filing describes a resolution to conduct a tender offer from 2 February to 30 March 2018 for up to 850,000 treasury shares, representing 3.75% of the total number of issued shares, and up to ¥1,660,050,000 in total. The stated purposes are improving capital efficiency, including EPS and ROE, and returning profits to shareholders.