Improving Capital Efficiency and Returning Capital to Shareholders through Share Repurchases and Tender Offers
First written in FY2022-Q2. 1 of 2 entries say "Achieved", first in FY2022-Q3. Latest entry: FY2022-Q3.
- FY2022-Q3AchievedAnnual report
「Results of the tender offer for treasury shares: (1) Number of shares tendered: 600,000 shares; (2) Total number of shares acquired: 600,000 shares; (3) Total acquisition price: ¥810.000 million; (4) Acquisition date: 6 January 2022」
The company completed the planned tender offer for treasury shares by acquiring 600,000 shares for a total of ¥810 million on 6 January 2022. - FY2022-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 11 November 2021, the Company resolved to acquire treasury shares and to conduct a tender offer for treasury shares as the specific acquisition method, pursuant to Article 156, paragraph 1 of the Companies Act, as applied by replacing the relevant provisions under Article 165, paragraph 3, and the Company's Articles of Incorporation. Total shares to be acquired: 600,100 shares (maximum); total acquisition price: ¥810.135 million (maximum); acquisition period: 12 November 2021 to 31 January 2022. The planned number of shares to be purchased in the tender offer was 600,000, at a price of ¥1,350 per common share.」
In response to an intention by a major shareholder to sell shares, the company resolved to conduct a tender offer for treasury shares after considering the impact of releasing the shares into the market on liquidity and the market price. The objectives are to improve capital efficiency, EPS, and ROE, and to return profits to shareholders.