Sony : Notice Regarding the Setting of Parameters for Repurchase of Shares of Common Stock (Repurchase of Shares Under the Provision of Sony's Articles of Incorporation Pursuant to Article 459, Paragraph 1 of the Companies Act)
August 04, 2020 at 07:11 am
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August 4, 2020
Sony Corporation
Notice Regarding the Setting of Parameters for Repurchase of Shares of Common Stock (Repurchase of Shares Under the Provision of Sony's Articles of Incorporation Pursuant to Article 459, Paragraph 1 of the Companies Act)
Sony Corporation ("Sony") has today approved by resolution of its Board of Directors the setting of parameters for repurchase of shares of its own common stock pursuant to Article 459, Paragraph 1 of the Companies Act of Japan and Article 34 of Sony's Articles of Incorporation, as follows.
1. Reason for Setting Parameters
The following parameters have been set for the purpose of enabling Sony to flexibly repurchase its own shares in consideration of factors such as opportunities for strategic investment, Sony's financial condition and the price of its common stock.
2. Parameters for the Repurchase of Shares
(1)
Class of shares for
Common stock of Sony
repurchase
Total number of shares for
20 million shares(maximum)
(2)
(1.64% of total number of shares issued and
repurchase
outstanding (excluding treasury stock))
(3)
Total purchase price for
100 billion yen(maximum)
repurchase of shares
(4)
Period of repurchase
August 5, 2020 to March 31, 2021
Expected open market purchase through the Tokyo
(5)
Method of repurchase
Stock Exchange based on a discretionary trading
contract
Depending on investment opportunities, market environment and other factors, it is possible that no share repurchase, or a share repurchase of only a portion of the above, will be carried out.
(For reference) Status of treasury stock as of June 30, 2020
Total number of shares
issued and outstanding 1,221,430,370 shares (excluding treasury stock)
Number of treasury stock
39,628,411 shares
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Sony Corporation published this content on 04 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2020 06:11:07 UTC
Sony Group Corporation (formerly Sony Corporation) is a world leader in designing, manufacturing, and selling electronics and entertainment products. Net sales break down by activity as follows:
- game sales (28.9%): game consoles, softwares and consumables;
- sale of multimedia products (21.1%): televisions (37.3% of sales), mobile telecommunications equipment (18.8%), still and video cameras (17.7%), audio and video equipment (16.5%) and other (9.7%);
- music production and distribution (10.3%; Sony Music Entertainment);
- sale of imaging and sensing solutions (10.4%);
- cinematography production and distribution and TV broadcasting (8.4%): operating primarily on behalf of Sony Pictures and Columbia Pictures;
- other (2.4%).
The remaining sales (18.5%) are from financial services.
Net sales break down geographically as follows: Japan (32.9%), China (8.5%), Asia/Pacific (9.6%), the United States (23.9%), Europe (20.2%) and other (4.9%).
Sony : Notice Regarding the Setting of Parameters for Repurchase of Shares of Common Stock (Repurchase of Shares Under the Provision of Sony's Articles of Incorporation Pursuant to Article 459, Paragraph 1 of the Companies Act)