Nippon Telegraph And Telephone : NOTICE OF STOCK REPURCHASE THROUGH OFF-AUCTION OWN SHARE REPURCHASE TRADING (ToSTNeT-3)
September 10, 2019 at 01:32 pm IST
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September 10, 2019
Nippon Telegraph and Telephone Corporation ('NTT') has today decided to implement a repurchase of shares of its common stock, which was authorized by a resolution passed at a meeting of its board of directors held on August 6, 2019, pursuant to Article 156 of the Companies Act of Japan, as applied pursuant to Paragraph 3, Article 165 of the Companies Act. Details of the method of repurchase are as follows:
1.Method of Repurchase:
NTT will place purchase orders for its shares through brokerages on the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) for the 8:45 a.m. session on September 11, 2019 (no changes to the trading system or trading time will be made), at a price equal to the closing price of NTT's common stock on the first section of the Tokyo Stock Exchange on September 10, 2019 (¥5,126).
2.Details of Repurchase:
(1) Class of shares to be repurchased
Common stock
(2) Total number of shares to be repurchased
53 million shares
(Note 1)The maximum number of shares to be repurchased will not change. Depending on market conditions, however, there is a possibility that NTT will not make any purchase or will only make a partial purchase.
(Note 2)The purchase will be conducted by matching sell orders equivalent to buy orders according to the allocation method prescribed by the Tokyo Stock Exchange.
3.Announcement of the results of Repurchase:
NTT will announce the results of its stock repurchase after completion of the repurchase at 8:45 a.m. on September 11, 2019.
(For reference)
Details of the resolution approved at the board of directors' meeting held on August 6, 2019 (as announced on August 6, 2019):
(1) Class of shares to be repurchased
Common stock
(2) Total number of shares to be repurchased
Up to 53 million shares
(3) Aggregate repurchase amount
Up to 300 billion yen
Information is current as of the date of issue of the individual press release.
Please be advised that information may be outdated after that point.
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NTT - Nippon Telegraph & Telephone Corporation published this content on 10 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2019 08:01:03 UTC
Nippon Telegraph and Telephone Corporation (NTT) is one of the Japanese largest telecommunications operators. Net sales break down by activity as follows:
- systems integration services (32.8%). In addition, the group offers cloud services, data hosting, managed services, etc.;
- networking and interconnection services (28.3%);
- mobile telephony services (9.1%): 84.8 million subscribers at the end of March 2022;
- fixed-line telecommunications services (7.5%): local and long-distance telephony services
- sale of telecommunications terminals (5.7%);
- other (16.6%): primarily distribution of films, music and e-books, financial services, real estate management and renewable energy production.
Japan accounts for 81.9% of net sales.