Citizen Watch : 02 13, 2023Notice of Decision on Acquisition of Treasury Stock
February 13, 2023 at 11:46 am IST
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English Translation
The Japanese original should be considered to be the primary version
February 13, 2023
For Immediate Release
Company name: Citizen Watch Co., Ltd. Representative: Toshihiko Sato, President and CEO (Code: 7762, Prime, Tokyo Stock Exchange) Please address inquiries to Toshiyuki Furukawa
Managing Director in charge of Public & Investor Relations Department TEL: +81-42-468-4934
Notice of Decision on Acquisition of Treasury Stock
(Acquisition of Treasury Stock under the Articles of Incorporation Pursuant to Article 165,
Paragraph 2 of the Companies Act)
Citizen Watch Co., Ltd. announces that at a meeting of its Board of Directors held on February 13, 2023, it resolved to acquire treasury stock under Article 156 of the Companies Act applied by the reading of terms pursuant to Article 165, Paragraph 3 of the Companies Act. Details are as follows:
1. Reason for the acquisition of treasury stock
To enhance shareholder return and increase capital efficiency.
2. Details of the acquisition
Type of stock to be acquired: Common shares in the Company
Number of shares that can be acquired: 75,000,000 shares (upper limit)
(ratio to the total number of shares issued (excluding treasury stock) 25.61 %)
Total acquisition cost: 40 billion yen (upper limit)
Acquisition period: February 16, 2023 - February 15, 2024
(For reference) Holding of treasury stock as of January 31, 2023
Total number of shares issued (excluding treasury stock)
292,855,074 shares
Treasury stock
1,144,926 shares
* The treasury stock doesn't include 483,762 shares held by the Officers' Compensation BIP Trust.
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Citizen Watch Co. Ltd. published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 06:15:04 UTC.
Citizen Watch Co., Ltd. is one of the world's largest watch manufacturers. Net sales break down by family of products as follows:
- watches and clocks (50.9%);
- industrial machines (21%): digital control lathes, machine tools, industrial robots, etc.;
- electronic devices (20.1%): electroluminescent diode microchips, quartz oscillators, electronic viewfinders, etc.;
- electronic equipment (6%): electronic thermometers, calculators, printers, medical equipment, etc.;
- other (2%): jewels, automotive components, etc.
CITIZEN WATCH CO., LTD. 
