Mitsubishi Electric Announces Status and Conclusion of Company Stock Repurchase
According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan
TOKYO, October 10, 2024--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today the conclusion of its repurchase of company 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 incorporation approved by the Board of Directors on August 29, 2024, as shown below.
1. | Type of Shares Repurchased: | Common stock |
2. | Number of Shares Repurchased: | 3,388,200 shares |
3. | Aggregate Value of Shares Repurchased: | JPY 8,110,663,450 |
4. | Repurchase Period: | October 1, 2024 to October 9, 2024 |
5. | Repurchase Method: | Market trades on Tokyo Stock Exchange |
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1. | Details of resolution approved by the Board of Directors on August 29, 2024 | ||||
| (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 to 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. | |||
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2. | Total number and aggregate value of shares repurchased pursuant to the abovementioned resolution of the Board of Directors (as of October 9, 2024) | ||||
| (1) | Total number of shares repurchased: | 12,898,800 shares | ||
| (2) | Aggregate value of shares repurchased: | JPY 29,999,849,500 | ||
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Contacts
Investor Relations Inquiries
Corporate IR&SR Division
Mitsubishi Electric Corporation
[email protected]
Media Inquiries
Madoka Iwanaga
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2332
[email protected]
www.MitsubishiElectric.com/news/