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- Mitsui & Co., Ltd.
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- Mitsui & Co., Ltd.
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Notification of Partial Amendments to "Notification of Stock Repurchase and Cancellation of Treasury Stock"
(Stock Repurchase in accordance with paragraph 2 of Article 165 of the Companies Act of Japan and cancellation of treasury stock in accordance with Article 178 of the said Act)
Main Contents
At the meeting of the Board of Directors held on November 1, 2022, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President & CEO: Kenichi Hori) resolved to repurchase its stock in accordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of the said act, and to cancel treasury stock in accordance with Article 178 of the said Act. At the meeting of the Board of Directors held on today, Mitsui resolved to change the resolution as per the following details:
1. Reasons for change
To further enhance shareholder returns and improve capital efficiency.
2. Details of changes to repurchase
Changed points underlined.
| Before Change (November 1, 2022 Board of Directors resolution) |
After Change | |
|---|---|---|
| (1) Class of shares | Common stock of Mitsui | Common stock of Mitsui |
| (2) Total number of common stock to be repurchased | Up to 60,000,000 shares (Up to 3.8% of the total number of outstanding shares of common stock, excluding treasury stock) |
Up to 80,000,000 shares (Up to 5.2% of the total number of outstanding shares of common stock, excluding treasury stock) |
| (3) Total repurchase amount | Up to 140,000,000,000 yen | Up to 240,000,000,000 yen |
| (4) Repurchase period | From November 2, 2022 to February 28, 2023 | From November 2, 2022 to July 31, 2023 |
| (5) Repurchase method | (i) Purchases through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) (ii) Purchases through auction market on Tokyo Stock Exchange based on a discretionary trading agreement |
(i) Purchases through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) (ii) Purchases through auction market on Tokyo Stock Exchange based on a discretionary trading agreement |
3. Details of changes to cancellation
Changed points underlined.
| Before Change (November 1, 2022 Board of Directors resolution) |
After Change | |
|---|---|---|
| (1) Class of shares | Common stock of Mitsui | Common stock of Mitsui |
| (2) Total number of treasury stock to be cancelled | All shares of common stock to be repurchased pursuant to (2) above and additional 10,000,000 shares (all together up to 4.4% of the total number of outstanding shares) | All shares of common stock to be repurchased pursuant to (2) above and additional 10,000,000 shares (all together up to 5.7% of the total number of outstanding shares) |
| (3) Scheduled date of cancellation | March 13, 2023 | (i) All shares of common stock purchased from 2 November 2022 to 28 February 2023 and additional 10,000,000 shares on March 13, 2023 (ii) All shares of common stock to be repurchased from 1 March 2023 to 31 July 2023: 31 August 2023 |
For reference
1. Total number of common stock repurchased up to January 31, 2023 based on November 1, 2022 Board of Directors resolution
(i) Total number of common stock repurchased: 32,559,900
(ii)Total repurchased amount: 119,490,814,729 yen
2. Status of treasury stock as of December 31, 2022
(i) Number of outstanding shares excluding treasury stock: 1,546,748,139
(ii)Number of treasury stock: 45,718,505*
* The number of treasury stock above does not include 3,782,936 shares held by the ESOP trust.