May 20, 2022 | |
Company name: | Neturen Co., Ltd. |
Name of representative: | Katsumi Omiya, Representative |
Director, Member of the Board, | |
President and Chief Executive | |
Officer | |
(Securities code: 5976; Prime | |
Market of the Tokyo Stock | |
Exchange) | |
Inquiries: | Naoki Hisada, Executive Officer, |
Head of Corporate Planning Office | |
(Telephone: +81-3-3443-5441) |
Notice Concerning Decision on Matters Related to Purchase of Treasury Shares
(Purchase of treasury shares under the provisions of Neturen's Articles of Incorporation
pursuant to Paragraph 2, Article 165 of the Companies Act)
Neturen Co., Ltd. (the "Company") hereby announces that a resolution was passed, at a meeting of the Board of Directors held on May 20, 2022, regarding matters related to the purchase of its treasury shares in accordance with Article 156 of the Companies Act (the "Act"), as applied pursuant to Paragraph 3, Article 165 of the Act, as described below.
1. Reason for purchase of treasury shares
Based on the long-term management vision "NETUREN VISION 2030" and the capital allocation in the 15th Medium-term Management Plan, both of which were formulated in May 2021, the Company resolved to conduct share purchases to ensure the achievement of the goals of the 15th Medium-term Management Plan, in particular, with a view to implementing a flexible capital policy in response to changes in the business environment, increasing capital efficiency, as well as further increasing shareholder returns in light of the financial situation going forward.
2. Details of purchase
(1) | Class of shares to be | Common shares of the Company's stock |
purchased | ||
(2) | Potential total number of | 3,125,000 shares (upper limit) |
shares to be purchased | (7.83% of issued and outstanding shares (excluding treasury shares)) | |
(3) | Total cost for purchase | 1,500,000,000 yen (upper limit) |
(4) | Period | May 23, 2022 to March 31, 2023 |
(5) | Method of purchase | Market purchases on the Tokyo Stock Exchange under a discretionary |
investment method | ||
(Reference) Number of treasury shares as of April 30, 2022 | ||
Number of issued shares | 39,906,382 shares | |
(excluding treasury shares) | ||
Number of treasury shares | 1,000,118 shares | |
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