DENSO Announces Acquisition of Own Shares And Cancellation of Own Shares
(Acquisition of own shares in accordance with our Articles of Incorporation pursuant to Article 165, paragraph 2 of the Corporation Act and cancellation of own shares pursuant to Article 178 of the Corporation Act)
Kariya (Japan) ― DENSO Corporation (the “Company”), announced that a resolution was adopted at the board of directors meeting held today to acquire its own shares pursuant to
Article 156 of the Corporation Act as applied pursuant to Article 165, Paragraph 3 of the Corporation Act,and adopted to cancel its own shares pursuant to Article 178 of the Corporation Act.
1. Purpose of the stock purchase
The purchase of the stock will increase returns to shareholders and improve capital efficiency.
2. Contents of acquisition
| (1) Type of shares to be purchased: | Common stock |
|---|---|
| (2) Total number of shares to be purchased: | ①Up to 2,500,000 shares ②Up to 5,500,000 shares |
| (3) Total cost of the purchase: | ②Up to 20,625 million yen |
| (4) Method of acquisition: | ②Discretionary trading by a securities company |
| (5) Acquisition period: | ②October 3 to November 30, 2016 |
3. Contents of cancellation of own shares
| (1) Type of shares to be cancelled : | Common stock |
|---|---|
| (2) Total number of shares to be cancelled : | 90 million shares |
| (3) Scheduled date of cancellation : | August 25,2016 |
Note:
Number of treasury shares as of June 30, 2016:
Total number of shares outstanding (excluding treasury shares): 792,821,703 shares
Number of treasury shares: 91,247,010 shares