-In Accordance with the Provisions of Article 156 of the Corporation Act-
DENSO Corporation (the “Company”) announced that its board of directors agreed to present to shareholders a stock repurchase proposal (in accordance with Article 156 of the Corporation Act). This proposal will be presented at the 92th annual shareholders meeting on June 19, 2015.
1. Purpose of the stock purchase
The Company will purchase its stock after obtaining approval from the shareholders in accordance with Article 156 of the Corporation Act. The purchase of the stock will improve capital efficiency, and increase returns to shareholders. Also, the shareholder approval will enable the Company to adopt timely and flexible capital policy measures in response to changes in the business environment.
2. Information on the shares to be purchased by the Company
(1) Type of shares to be purchased: Common stock
(2) Total number of shares to be purchased: Up to 5,000,000 shares
(0.63percent of total outstanding shares)
(3) Total cost of the purchase: Up to 30 billion yen
(4) Acquisition period:From June 20, 2015 to June 19, 2016
Note: Following shareholder approval at the 92th annual shareholders meeting on June 19, 2015, the Company will be authorized to purchase its stock.
