Translation
Notice: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
January 17, 2025
Company name: SAKATA SEED CORPORATION
Name of Representative: Hiroshi Sakata
President and Representative Director (Securities code:1377, TSE Prime Market)
Inquiries:Takenori Hoshi Senior Executive Officer
Senior General Manager of General Administration Div.
General Manager of Finance Dept. (Telephone: +81-45-945-8800)
Notice Concerning Acquisition of Own Shares and Repurchase of Own Shares Through
Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)
(Acquisition of Own Shares Under the Provisions of the Articles of Incorporation Pursuant to the Provisions of Article 165, Paragraph (2) of the Companies Act and Repurchase of Own Shares Through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3))
SAKATA SEED CORPORATION (the "Company") hereby announces that it has resolved, at a meeting of the Board of Directors held on January 17, 2025, to acquire its own shares pursuant to the provisions of Article 156 of the Companies Act, as applied by replacing the relevant terms pursuant to the provisions of Article 165, paragraph (3) of the same Act, and has resolved the specific method of acquisition. The details are described below.
-
Reason for acquisition of own shares
The Company will undertake the acquisition of own shares to enhance shareholder returns, improve capital efficiency and to carry out capital policy according to the business environment flexibly. - Method of acquisition
At 8:45 a.m. on January 20, 2025, a consigned purchase order will be placed with the Tokyo Stock Exchange off-auction own share repurchase trading system (ToSTNeT-3) at the closing price of ¥3,585 (including final special quote) for today, January 17, 2025 (no changes to other transaction systems or transaction times will be made).
The purchase order will apply only to the specified transaction time.
3. | Details of acquisition | |
(1) | Class of | Common shares |
shares to be acquired | ||
(2) | Total number of | 700,000 shares (upper limit) |
shares to be acquired | (1.59% of total number of issued shares (excluding treasury shares)) | |
(3) | Total value of | ¥2,509,500,000 (upper limit) |
shares to be acquired | ||
(4) | Announcement of | The results of the acquisition will be announced after completion of |
results of acquisition | the transaction at 8:45 a.m. on January 20, 2025 |
Note 1: No change will be made to the number of shares specified above. Note, however, that part or all of the acquisition may not be carried out depending on market trends and other factors.
Note 2: The purchase will be made on the basis of sell orders corresponding to the number of shares scheduled to be acquired.
(Reference) Holding status of treasury shares as of November 30, 2024 Total number of issued shares
(excluding treasury shares)
Number of treasury shares 2,507,130 shares
*The number of treasury shares above does not include shares held by the Board Benefit Trust (54,600 shares).