Notification of Stock Repurchase through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)
(Repurchase of shares in accordance with the Article 165, paragraph 2 of the Companies Act of Japan and Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) for the repurchase)
At the meeting of the Board of Directors held on February 8, 2017, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President & CEO: Tatsuo Yasunaga) resolved to repurchase its own shares in accordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3, Article 165 of the Companies Act of Japan. Details of the repurchase are as follows:
1. Purpose of share repurchase
To improve capital efficiency and to implement flexible capital management policy.
2. Method of repurchase
Mitsui will place an order to purchase shares at 8:45 a.m. on February 9, 2017 through brokerages on the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3).The price for the shares in the buy-order will be the closing price of Mitsui's common stock on February 8, 2017. (No other changes to the trading system or trading time will be made.) The aforementioned buy-order will only be effective for the time mentioned above.
Mitsui will announce the repurchase price after today's closing share price is confirmed.
3. Details of repurchase
|(1) Class of stock||Common shares of Mitsui|
|(2) Total number of shares to be repurchased||Up to 28,000,000 shares
(1.56% of the total number of shares outstanding excluding treasury shares)
|(3) Total amount||Up to 50,000,000,000 yen|
|(4) Announcement of own share repurchase result||The result will be announced after the repurchase at 8:45 a.m. on February 9, 2017 is completed.|
(Note 1) The maximum number of shares to be repurchased will not change. Depending on factors including market conditions, however, there is a possibility that Mitsui will not make any purchase or will only make a partial purchase.
(Note 2) The purchase will be conducted by matching sell orders equivalent to buy orders according to the allocation method prescribed by the Tokyo Stock Exchange.
(Note 3) If the repurchase price per share is less than 1,786 yen ((3)/(2)), total maximum number of shares to be repurchased will be 28 million shares. If the repurchase price per share exceeds 1,786 yen, total maximum amount will be 50 billion yen.
[Reference] Status of treasury shares as of December 31, 2016
Number of outstanding shares including treasury shares : 1,796,514,127 shares
Number of treasury shares : 4,009,538 shares
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.