AUTOBACS SEVEN : announces Decisions regarding Acquisition of Own Shares (In accordance with Article 165, paragraph 2 of the Japan's Corporation Law)
January 31, 2017 at 04:04 pm IST
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NEWS RELEASE
January 31, 2017
AUTOBACS SEVEN announces Decisions regarding Acquisition of Own Shares
(In accordance with Article 165, paragraph 2 of the Japan's Corporation Law)
January 31, 2017 (Tokyo, Japan) - AUTOBACS SEVEN Co., Ltd. ("the Company," Representative
Director and Chief Executive Officer: Kiomi Kobayashi) announces that its Board of Directors resolved at the meeting held today to acquire its own shares, under Article 156 of the Japan's Corporation Law, as applied pursuant to Article 165, paragraph 3 of the same law.
Reason for acquisition of the Company's own shares:
To enhance shareholder returns and improve capital efficiency
Details of acquisition:
Type of shares to be acquired
Shares of common stock of the Company
Aggregate number of shares to be acquired
Up to 1,500,000 shares; 1.78% of total shares outstanding (excluding treasury stock)
Aggregate purchase price of shares Up to JPY 3,000,000,000
Acquisition period
From February 1, 2017 to February 28, 2017
Method of purchase
Through the Tokyo Stock Exchange's ToSTNeT-3 in off-hours trading (through the ToSTNet-3 trading system)
(Reference) Treasury stock as of December 31, 2016
Total number of shares outstanding (excluding treasury stock): 84,044,260 shares Total number of treasury stock: 5,845 shares
Disclaimer: Please note that this document is a summary translation of the Japanese press release and prepared for reference purposes only. We do not assure the correctness or completeness of this summary translation. Please note that this summary translation may be amended without notice, or be pulled from our website for such amendment purpose, etc., at our own discretion.
Autobacs Seven Co. Ltd. published this content on 31 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 January 2017 10:34:07 UTC.
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Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
