Kakaku com : Notice of Determination Acquisition of Treasury Stock
September 20, 2017 at 08:10 am
Share
September 20, 2017
For Immediate Release
(English translation of the original Japanese document)
Company name: Kakaku.com, Inc. Representative: Shonosuke Hata, President and Representative Director (Stock code: 2371; First Section of the Tokyo Stock Exchange)
Contact: Ichiro Sakuta, Senior Managing Executive Officer, General Manager of Administration Division
Phone: +81 3-5725-4554
Notice of Determination Acquisition of Treasury Stock
(Acquisition of Treasury Stock under the Provisions of the Articles of Incorporation Pursuant to Article 165, Paragraph 2 of the Companies Act)
Kakaku.com, Inc. (the "Company") hereby announces that at a meeting of the Board of Directors held today, matters relating to the acquisition of treasury stock pursuant to the provisions of Article 156 of the Companies Act, as applied mutatis mutandis under Article 165, Paragraph 3 of the Companies Act, were resolved as follows.
Reason for Acquisition of Treasury Stock
In order to achieve a flexible capital structure that can respond to changes in business conditions, the Company plans to conduct an acquisition of treasury stock under the provisions of its Articles of Incorporation for the purpose of increasing shareholder returns.
Details of Matters Relating to the Acquisition
(1) Class of shares to be acquired
Common stock of Kakaku.com, Inc.
(2) Total number of shares to be acquired
5,000,000 shares (maximum)
(2.3% of total number of shares issued and outstanding (excluding treasury stock))
(3) Total acquisition cost
7,000,000,000 yen (maximum)
(4) Acquisition period
September 21,2017 to November 20, 2017
(5) Method of acquisition
Open market purchase through the Tokyo Stock Exchange
Depending on market trends and other factors, all or part of the planned acquisition may not be completed. The company plans to cancel the acquired treasury stock, excluding stocks appropriated to stock options.
For reference: Status of treasury stock holdings as of August 31, 2017
Total number of shares issued and
outstanding (excluding treasury stock)
214,125,675 shares
Treasury stock
879,325 shares
Kakaku.com Inc. published this content on 20 September 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 September 2017 07:09:01 UTC.
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Kakaku.com Inc is a Japan-based company mainly engaged in the operation of purchasing support Website Kakaku.com. The Company operates through two business segments. Internet Media segment is engaged in the operation of Websites that provide price comparison service, restaurant search and reservation service, real estate information, travel information, movie information, automobile information, bus information and inheritance procedure service. The segment also develops dynamic package system, movie contents and Website production. The Finance segment is involved in the insurance agency business.