Mitsui & Co., Ltd. (hereinafter "Mitsui" or "the Company", President and CEO: Tatsuo Yasunaga) announced today that it has decided to sell a portion of the common stock that it owns in Recruit Holdings Co., Ltd. (hereinafter "Recruit Holdings", Tokyo Stock Exchange First Section, Code No.: 6098) as one of the selling companies taking part in a secondary offering of common stock by Recruit Holdings under the Company's policy on shareholdings in accordance with Japan's Corporate Governance Code. For further details, please refer to the announcement "Announcement of Secondary Offering of Shares" made by Recruit Holdings today.
1. Stock to be sold
(1) Common Stock in Recruit Holdings: 15,000,000 shares
With regard to the remaining shares of Recruit Holdings that Mitsui will continue to hold, the Company has agreed with the joint global coordinators of this secondary offering that no share disposal of any kind shall be performed without the prior written consent of the joint global coordinators during the period starting from the date on which the share sale price is determined and ending on the date that is 180th day from and including the date of delivery of the shares regarding this global offering(lock-up period).
(2) The sales price from Mitsui to the underwriters is to be determined on any of the days during the period from September 10, 2019 (Tuesday) to September 12, 2019 (Thursday).
2. Mitsui's stock ownership before and after the sale
(1) Number of shares owned before the sale: 27,000,000 shares
(2) Number of shares owned after the sale: 12,000,000 shares
3. Impact on earnings forecasts
Mitsui will make a prompt announcement as needed regarding the impact on earnings forecasts after the sales price is determined. On a consolidated basis, the gain and loss on sale of investment securities associated with the sale of Recruit Holdings shares is accounted for as comprehensive income on the consolidated financial statements and does not have any impact on the consolidated earnings forecasts.