REG - Nippon Telegraph - NOTICE REGARDING STOCK REPURCHASES

Nippon Telegraph and TelephoneAnnouncement

06/08/2019 08:40

RNS Number : 0598I
Nippon Telegraph and Telephone Corp
06 August 2019
 


August 6, 2019
 




                  


 


 


 


 




 


 


 


 


Company Name: Nippon Telegraph and Telephone Corporation




 


 


 


 


Representative: Jun Sawada, President and Chief Executive Officer




 


 


 


 


(Code No.: 9432, First section of Tokyo Stock Exchange)




 
Notice regarding Stock Repurchases

(Under the Provisions of NTT's Articles of Incorporation pursuant to

Paragraph 2, Article 165 of the Companies Act of Japan)
 
Nippon Telegraph and Telephone Corporation ("NTT") hereby announces that, at a meeting of its Board of Directors held today, NTT authorized repurchases of shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the "Companies Act"), as applied pursuant to Paragraph 3, Article 165 of the Companies Act, as described below.
 
 
1.      Reasons for Stock Repurchases:
To improve capital efficiency and enhance shareholder returns.
 
2.      Details of Repurchases:




(1)     Total number of shares to be repurchased:


Up to 53 million shares of common stock
(Ratio to the number of outstanding shares*: 2.84%)




(2)     Aggregate repurchase amount:


Up to 300 billion yen




(3)     Period of repurchases:


August 7, 2019 ~ September 30, 2019




(4)     Method of repurchases:


Through the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) (Planned)




 
3.      Other:
NTT plans to acquire the number of shares of its common stock (up to 48,666,710 shares) whose sale proceeds have been accounted for under the Japanese government's fiscal 2019 budget.
 
(For reference) Number of shares of treasury stock (as of July 31, 2019)
    Number of outstanding shares*：                      1,866,603,233 shares
                          Number of shares of treasury stock：              83,791,237 shares

*Excluding shares of treasury stock.

 




For further inquiries, please contact:




 




Masayoshi Inoue or Takayuki Kimura




Investor Relations Office




Finance and Accounting Department




Nippon Telegraph and Telephone Corporation




Contact us by email:




https://www.ntt.co.jp/ir/form_e/ref_contact.html




 




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