In Accordance with the Provisions of Article 156 of the Corporation Act
DENSO Corporation (the “Company”), announced that a resolution was adopted at the board of directors meeting held today to acquire its own shares under Article 156 of the Corporation Act.
1. Purpose of the stock purchase
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. The Company obtained approval of the purchase of the stock at the annual shareholders meeting on June 19, 2015, in accordance with Article 156 of the Corporation Act. Based on the approval, the Company authorized the purchase at the board of directors’ meeting held on July 31, 2015.
2. Contents of acquisition
- Type of shares to be purchased: Common stock
- Total number of shares to be purchased : Up to 5,000,000 shares(0.63 percent of total outstanding shares)
- Total cost of the purchase: Up to 30 billion yen
- Method of acquisition: Discretionary trading by a securities company
- Acquisition period: From August 17 to October 30, 2015
Note:
Number of treasury shares as of June 30, 2015:
- Total number of shares outstanding (excluding treasury shares): 797,824,254 shares
- Number of treasury shares: 86,244,459 shares
Details of the resolution approved at the shareholders’ meeting held on June 19, 2015
- Class of shares to be acquired: Common stock of the Company
- Total number of shares to be acquired: Up to 5,000,000 shares (0.63 percent of total outstanding shares)
- Aggregate amount of acquisition cost: Up to 30 billion yen
- Period of acquisition: From June 20, 2015 to June 19, 2016
Total number and value of shares repurchased pursuant to the resolution approved at the shareholders’ meeting held on June 19, 2015:
- Total number of shares repurchased: zero shares
- Aggregate repurchased amount: zero yen
