Sekisui Chemical : Notice Regarding Purchase of Treasury Shares and Cancellation of Treasury Shares
April 26, 2024 at 07:56 pm IST
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April 26, 2024
Press Release
SEKISUI CHEMICAL CO., LTD.
Notice Regarding Purchase of Treasury Shares and Cancellation of Treasury Shares
(Acquisition of treasury shares pursuant to the provisions of the Articles of Incorporation based on the provisions of Article 165, Item 2 of the Corporate Law and cancellation of treasury shares in accordance with Article 178 of the Corporate Law)
SEKISUI CHEMICAL CO., LTD. announces that it has decided at the meeting of its board of directors held on April 26, 2024 to purchase treasury shares pursuant to the provisions of Article156 of the Corporate Law after applying the provisions of Article 165, Item 3 of the Law and to cancel the treasury shares, under the provisions of Article 178 of the Corporate Law.
1. Reasons for the acquisition and cancellation of treasury shares
To improve capital efficiency, and to allow flexible capital policies corresponding to changes in the business environment
2. Details of the acquisition
Type of shares to be acquired: Common shares of SEKISUI CHEMICAL
Total number of shares to be acquired: Up to 4,000,000 shares
(Percentage of total number of issued shares (excluding treasury shares): 0.95%)
Total acquisition cost: 9.2 billion yen (maximum)
Acquisition period: From April 30, 2024 to March 31, 2025
Acquisition method: Market purchases including pre-announcement market purchases (ToSTNeT-3)
3. Details of the cancellation
Type of shares to be retired: Common shares of SEKISUI CHEMICAL
Number of shares to be cancelled: 4,000,000 shares
(0.89% of issued shares before the cancellation)
Total number of shares issued after the cancellation: 444,507,285 shares
Scheduled date of cancellation: May 24, 2024
(Reference) Number of treasury shares as of March 31, 2024
Total number of issued shares (excluding treasury shares): 422,538,065
Treasury shares: 25,969,220
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Sekisui Chemical Co., Ltd. is a company that operates in four business segments .The Housing segment is engaged in the manufacture, construction, sale and renovation of unit housing, the sale of land for subdivision, the provision of reform services, as well as the construction and sale of interior items, exterior items and real estate. The Environment and Life Line segment offers vinyl chloride pipe and fittings, polyethylene pipe and fittings, system pipe, aqueduct/water conduit rehabilitation materials, reinforced plastic composite pipes, and building materials, among others. The High-performance Plastics segment offers intermediate films for laminated glass, foamed polyolefin, tapes, particulate for liquid crystal and sensitive materials and test drug, among others. The Others segment is engaged in the manufacture and sale of film type lithium ion battery, as well as the provision of other products and services.