Strengthening Shareholder Returns and Improving Capital Efficiency Through Share Repurchases and Tender Offers
First written in FY2021-Q3. 1 of 2 entries say "Advanced", first in FY2021. Latest entry: FY2021.
- FY2021AdvancedAnnual report
「Treasury shares acquired during the fiscal year 978,427 shares ¥573,358,222」
The company acquired 978,427 shares for ¥573,358,222 through a tender offer for treasury shares. Against the resolution limit of 1,100,100 shares, the unexercised portion was 11.06%. - FY2021-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 27 January 2021, the company resolved to acquire treasury shares and, as the specific method of acquisition, to conduct a tender offer for treasury shares (the "Tender Offer"), pursuant to Article 156, paragraph 1 of the Companies Act as applied by replacing the terms under Article 165, paragraph 3 of the same Act, and pursuant to the provisions of the company's Articles of Incorporation. The Companies Act is Act No. 86 of 2005, including subsequent amendments, and is referred to below as the "Companies Act." This is intended to strengthen shareholder returns, improve capital efficiency and pursue agile capital policies in response to changes in the business environment by giving the Board of Directors authority over the acquisition of treasury shares. Total number of shares to be acquired: 1,100,100 shares (maximum) Total acquisition price: ¥644,658,600 (maximum) Tender offer price: ¥586 per common share Tender offer period: 28 January 2021 to 1 March 2021」
On 27 January 2021, after the end of the third quarter, the company resolved to acquire treasury shares through a tender offer. The planned purchase was 1,100,000 shares, the maximum total acquisition was 1,100,100 shares, the maximum total acquisition price was ¥644,658,600, and the tender offer price was ¥586 per share. The acquisition period was 28 January to 31 March 2021, while the tender offer period was 28 January to 1 March 2021. The objectives were to strengthen shareholder returns, improve capital efficiency and maintain a stable shareholder base.