REG - Mitsubishi Corp. - Notice Regarding Share Repurchase

MitsubishiAnnouncement

06/02/2024 10:45

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RNS Number : 1836C  Mitsubishi Corporation  06 February 2024

Notice Regarding Share Repurchase and Cancellation of Treasury Stock

 

Mitsubishi Corporation (MC) hereby announces that, following an approval at a
meeting of board of directors on February 6, 2024, it shall repurchase its
common stock pursuant to Article 156 of the Companies Act of Japan, and as
applied pursuant to Paragraph 3, Article 165 of the Companies Act. It has also
resolved to cancel treasury stocks pursuant to Article 178 of the Companies
Act.

 

1.    Purpose of the Share Repurchase:

Shareholder returns and capital allocation in Midterm Corporate Strategy 2024

 

2.    Details of share repurchase:

 (1).  Class of shares to be repurchased              Common stocks
 (2).  Total number of shares to be repurchased       Up to 417 million shares

                                                      (Represents up to 10% of the total number of outstanding shares (excluding
                                                      treasury stock))
 (3).  Total purchase price for repurchase of shares  Up to 500 billion yen
 (4).  Planned period of repurchase                   February 7, 2024 to September 30, 2024*
 (5).  Method of repurchase                           Purchase at the Tokyo Stock Exchange

 

* This may change in accordance with relevant laws and regulations.

 

3.    Details of cancellation of treasury stocks:

 (1).  Class of shares to be cancelled   Common stocks
 (2).  Number of shares to be cancelled  All shares repurchased
 (3).  Planned date of cancellation      October 31, 2024

 

(References)

Amount of treasury stocks as of January 31, 2024

Total number of outstanding shares (excluding treasury stocks): 4,151,576,860
shares

Amount of treasury stocks:
 
              27,441,293 shares*

*133,463,700 shares of treasury stocks were cancelled on January 31, 2024

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