The Board of Directors of Asahi Kasei has today adopted a resolution for a repurchase of the company's shares pursuant to Article 459, Paragraph 1, of the Companies Act of Japan as well as Article 37 of the company's Articles of Incorporation, and for the cancellation of shares of treasury stock pursuant to Article 178 of the Companies Act, to be implemented as follows.
1.Reason for repurchasing shares
To enhance shareholder returns and improve capital efficiency
2.Details of the repurchase
a)Type of shares to be repurchased
Common stock of Asahi Kasei Corp.
b)Number of shares to be repurchased
12 million shares (maximum)
(0.86% of the number of issued shares excluding treasury stock)
c)Total value of shares to be repurchased
¥10.0 billion (maximum)
d)Repurchase period
From May 30, 2019, to September 30, 2019
e)Methods of repurchase
Purchase through the Tokyo Stock Exchange Trading Network System ToSTNeT-3
Purchase on the Tokyo Stock Exchange based on discretionary trading contracts
3.Details of the cancellation
a)Type of shares to be cancelled
Common stock of Asahi Kasei Corp.
b)Number of shares to be canceled
The total number of shares repurchased in accordance with 2. above
c)Scheduled date of cancellation
October 11, 2019
For reference
Holdings of treasury stock as of March 31, 2019
Number of issued shares excluding treasury stock
1,396,567,399 shares
Number of shares of treasury stock
6,048,933 shares