Notice Regarding Purchase of Treasury Shares and Retirement of Treasury Shares
(Purchase of treasury shares pursuant to the provisions of the Articles of Incorporation based on the provisions of Article 165, paragraph (2) of the Companies Act and retirement of treasury shares in accordance with Article 178 of the Companies Act)
At a meeting of the Board of Directors held on August 2, 2022, TAKARA STANDARD CO., LTD. (the "Company" hereinafter) resolved on matters relating to the purchase of its treasury shares pursuant to the provisions of Article 156 of the Companies Act as applied by replacing certain terms under the provisions of Article 165, paragraph (3) of the same Act. The Company also resolved on the retirement of treasury shares pursuant to the provisions of Article 178 of the Companies Act.
1. Reasons for purchase and retirement of treasury shares
In the "Medium Term Management Plan 2023" that was announced on June 29, 2021, the Company set "improvement of capital efficiency and further enhancement of shareholder return by using ROIC, etc." as one of its priority issues of management. After comprehensively considering the Company's financial position and the trends of the stock market, etc., the Company will conduct a purchase and retirement of treasury shares as one initiative toward addressing the aforementioned management issue.
2. Details of matters relating to purchase
(1)
Class of shares to be purchased
Common stock of the Company
(2)
Total number of shares to be purchased
2,400,000 shares (maximum)
(3.28% of total number of issued shares excluding treasury shares)
(3)
Total amount for share purchase
¥3,600 million (maximum)
(4)
Purchase period
August 3, 2022 to February 24, 2023
(5)
Method of purchase
Open market purchase at the Tokyo Stock Exchange including
Off-Auction Own Share Repurchase Trading (ToSTNet-3)
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3. Details of matters relating to retirement
(1) Class of shares to be retired
Common stock of the Company
(2) Total number of shares to be retired
790,000 shares of the currently held treasury shares of the
Company plus the total number of shares of treasury shares
purchased by the method stated in "2." above
(3) Scheduled date of retirement
March 15, 2023
(Reference)
Total number of shares issued and number of treasury shares as of June 30, 2022
Total number of shares issued (excluding treasury shares)
73,137,677 shares
Number of treasury shares
799,517 shares
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Takara Standard Co. Ltd. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 09:29:09 UTC.
TAKARA STANDARD CO., LTD. is a Japan-based company manufacturing and selling household equipment. The Kitchen Equipment division offers enameled and wooden system kitchens, kitchen sets, hollow kitchen panels, heating equipment and range hood storage equipment. The Bathroom Equipment division provides enameled and wooden bathroom vanities, sink units and enameled side panels. The Bathtub Equipment division provides system bathrooms, enameled bathtubs, color stainless steel bathtubs and artificial marble bathtubs and others. The Hot Water Supply Equipment division offers electric water heaters, gas and oil water heater, among others. The Sanitation Equipment division provides residential toilet, hand wash basin, various storage devices and others. The Others division provides other housing equipment, industrial kitchens, enameled wall-covering materials, moldings and others.
TAKARA STANDARD CO.,LTD. 