Okabe : Notice of Status of Buyback of Treasury Shares
January 05, 2023 at 01:08 am
Share
January 5, 2023
For Immediate Release
Company name
Okabe Co., Ltd.
Representative
Hirohide Kawase, Representative Director,
President and Chief Executive Officer
(Securities Code: 5959, TSE Prime Market)
Contact
Yasushi Hosomichi, Director and Senior
Managing Executive Officer in charge of
Administrative Division and International
Division
(TEL. +81-3-3624-5119)
Notice of Status of Buyback of Treasury Shares
(Buyback of Treasury Shares Based on the Provisions of the Articles of Incorporation Specified in
Paragraph (2), Article 165 of the Companies Act)
Okabe Co., Ltd. (the "Company") announces that it implemented the buyback of treasury shares based on the provisions of Article 156 of the Companies Act, which are applied by replacing terms and phrases pursuant to the provisions of paragraph (3), Article 165 of the same Act. Details are as follows.
1.
Type of shares bought back
: Common shares of the Company
2.
Total number of shares bought back
: 223,300
3.
Total value of shares bought back
: 159,211,600 yen
4.
Period of buyback
: December 1 - December 31, 2022
(on a contract execution date basis)
5.
Method of buyback
: Discretionary investment through a securities company
(Ref.)
1.
Details of the Board of Directors' meeting held on October 28, 2022.
(1)
Class of stock to be purchased
: Common stock of the Company
(2)
Total number of stock to be acquired : 1,500,000 shares (maximum)
(3.16% of the total number of outstanding shares (excluding treasury stock))
(3)
Total acquisition amount
: one billion yen (maximum)
(4)
Acquisition period
: From October 31, 2022 to April 28, 2023
(5)
Acquisition method
: Discretionary investment through a securities company
2. Cumulative total of treasury shares bought back according to the abovementioned resolution at the meeting of the Board of Directors (as of December 31, 2022)
(1)
Total number of shares bought back
: 506,400
(2)
Total value of shares bought back
: 360,070,000 yen
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Disclaimer
OKABE Co. Ltd. published this content on 05 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 January 2023 06:07:02 UTC.
OKABE CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of construction equipment and materials. The Company operates in three business segments. The Construction-related Product segment manufactures and sells temporary and formwork construction products, civil engineering products and structural products, and purchases and sells construction materials. The Automobile-related Product segment is engaged in the planning and sale of automobile related products. The Others segment manufactures and sells marine materials and supplies, and manufactures and sells fishing products in the United States.