April 14, 2025 | |
For Immediate Release | |
Company name: | IZUMI CO., LTD. |
Representative: | Shigeki Machida, President and |
Representative Director | |
(Code: 8273, TSE Prime Market) | |
Contact: | Kiminari Taira, Executive Officer and |
Corporate Planning Department Manager | |
(TEL +81-82-264-3211) |
Notice of Acquisition of Treasury Shares and Repurchase of Treasury Shares Through Off-Auction Own Share Repurchase Trading
System (ToSTNeT-3)
(Acquisition and Repurchase of Treasury Shares Through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) as
Provided for in the Articles of Incorporation Pursuant to the Provisions of Article 165, Paragraph 2 of the Companies Act)
Izumi Co., Ltd. (the "Company") announces that at a meeting of its Board of Directors held on April 14, 2025, it resolved to acquire treasury shares and determined the specific method of this acquisition in accordance withArticle 156 of the Companies Act as applied pursuant to Article 165, Paragraph 3 of the same act. Details are as follows.
1. Reason for acquiring treasury shares
As stated in our June 27, 2024 press release entitled "Measures to Achieve Management Conscious of Cost of Capital and Stock Price," we have positioned the medium- to long-term enhancement of corporate value and the return of profits to shareholders as one of our top priorities. In considering shareholder return measures, we have been informed by several of our shareholders that they intend to sell their holdings of our company's shares, and after careful consideration in light of social trends toward the reduction of strategic shareholdings, we have decided to acquire treasury shares through the Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) to further enhance corporate value by increasing shareholder returns and improving capital efficiency through the implementation of a flexible capital policy.
2. Method of acquisition
The Company will place a purchase order for its shares through a brokerage on the Tokyo Stock Exchange Trading Network Off- Auction Own Share Repurchase Trading System (ToSTNeT-3) for the 8:45 a m. session on April 15, 2025 (no changes to the trading system or trading time will be made), at the closing price (including the final special indication) of today (April 14, 2025). The said purchase order is an order limited to the said trading time.
The purchase price will be announced again after today's closing price is fixed.
3. Details of acquisition
(1) | Class of shares to | Common shares of the Company |
be acquired | ||
(2) | Total number of shares | 1,000,000 shares (maximum) |
able to be acquired | (1.40% of the total number of outstanding shares (excluding treasury shares)) | |
1 |
(3) | Total value of | 4,000,000,000 yen (maximum) |
shares acquired | ||
(4) | Announcement of | The result of acquisition will be announced after the closing of trading at 8:45 a.m. on |
result of acquisition | April 15, 2025. | |
(Note 1) Said number of shares will not be changed. Some or all of the shares may not be acquired, depending on market trends, among other factors.
(Note 2) The purchase will be conducted by matching sell orders for the number of shares to be acquired.
(Reference) Status of treasury shares held as of February 28, 2025 Total number of outstanding shares
(excluding treasury shares)
Number of treasury shares
2