Notice Regarding Repurchase of Company Shares
August 29 2024 - 2:45AM
Business Wire
According to Articles of Incorporation Pursuant
to Article 459, Paragraph 1 of Companies Act of Japan
Mitsubishi Electric Corporation (TOKYO: 6503) announced today
that the company’s Board of Directors resolved on August 29, 2024
to repurchase shares of the company’s stock pursuant to the
provisions of Article 459, paragraph 1 of the Companies Act, as
well as Article 31 of the company’s articles of incorporations, as
shown below.
1. Reason for Repurchase of Company Shares
Based on the financial policies of Mitsubishi Electric’s
medium-term management plan, the company will repurchase its own
stock to primarily enhance shareholder returns, strengthen capital
efficiency.
2. Details of Repurchase
(1) Type of Shares to
Repurchase:
Common stock
(2) Number of Shares to Repurchase:
20,000,000 shares (maximum unit) 0.96% of
issued and outstanding shares (excluding treasury stock)
(3) Aggregate Value of Repurchase:
JPY 30 billion (maximum limit)
(4) Repurchase Period:
August 30, 2024-October 31, 2024
(5) Repurchase Method:
Market trades on Tokyo Stock Exchange
Note: Part or all of the above-mentioned repurchases might not
be performed depending on market conditions and other factors.
(For reference) Status of treasury stock
as of July 31, 2024
Total number of shares Issued and
outstanding (excluding treasury stock)
2,088,228,171 shares
Number of treasury stock
24,973,380 shares
Note: The number of treasury stock includes 1,970,772 shares
held through the Board Incentive Plan (BIP) Trust.
For the full text, please visit:
www.MitsubishiElectric.com/news/
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Investor Relations Inquiries Corporate IR&SR Division
Mitsubishi Electric Corporation
Cad.Irg@rk.MitsubishiElectric.co.jp
Media Inquiries Madoka Iwanaga Public Relations Division
Mitsubishi Electric Corporation Tel: +81-3-3218-2332
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/