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At the meetings of the Board of Directors held on November 1, 2022 and February 3, 2023, Mitsui & Co., Ltd. ("Mitsui") resolved to repurchase its shares in accordance with Article 156 and Article 165 (3) of the Companies Act of Japan and today announces that it has reached the upper limit to the amount set for repurchase and that it has completed the share repurchase pursuant to the resolution above. Regarding the cancellation of treasury shares resolved at the meetings of the Board of Directors in accordance with Article 178 of the said Act, the number of treasury shares to be cancelled have been finalized. Details of the above are as follows.
1. Progress of shares repurchased as of July 7, 2023
| (1) Class of share |
Common stock of Mitsui |
| (2) Number of shares repurchased |
1,542,600 shares |
| (3) Cost of acquisition |
8,324,714,711 yen |
| (4) Repurchase period |
From July 1, 2023 to July 7, 2023 |
2. Cumulative total of shares repurchased until July 7, 2023 pursuant to the above-mentioned resolution
| (1) Number of shares repurchased |
60,004,800 shares |
| (2) Cost of acquisition |
239,999,944,385 yen |
3. Details of cancellation scheduled on August 31, 2023 pursuant to the above-mentioned resolution
| (1) Class of share |
Common stock of Mitsui |
| (2) Total number of treasury shares to be cancelled |
22,198,700 shares
(1.4% of total number of shares outstanding) |
| (3) Number of shares outstanding after the cancellation |
1,522,591,268 shares |
| (4) Scheduled date of cancellation |
August 31, 2023 |
4. Cumulative total of treasury shares to be cancelled pursuant to the above-mentioned resolution
| (1) Class of share |
Common stock of Mitsui |
| (2) Number of treasury shares to be cancelled |
70,004,800 shares (including 47,806,100 shares already canceled on Mar 13, 2023) |
[Reference]
1. Details of share repurchases resolved at the meetings of the Board of Directors held on November 1, 2022 and February 3, 2023
| (1) Class of share |
Common stock of Mitsui |
| (2) Total number of common stock to be repurchased |
Up to 80 million shares (Up to 5.2% of the total number of shares outstanding excluding treasury shares) |
| (3) Total amount |
Up to 240 billion yen |
| (4) Repurchase period |
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 |
2. Details of resolution regarding cancellation of treasury shares
| (1) Class of share |
Common stock of Mitsui |
| (2) Total number of treasury shares to be cancelled |
All shares repurchased pursuant to "1." above and an additional 10 million shares (in total, up to 5.7% of the total number of shares outstanding prior to the cancellation) |
| (3) Scheduled date of cancelation |
(i) All shares repurchased from November 2, 2022 to February 28, 2023 and an additional 10 million shares: March 13, 2023
(ii) All shares repurchased from March 1, 2023 to July 31, 2023: 31 August 2023 |
