Notice Regarding Share Repurchase

Mitsubishi Corporation

06 February 2024

 

Notice Regarding Share Repurchase and Cancellation of Treasury Stock

Mitsubishi Corporation (MC) hereby announces that, following an approval at a meeting of board of directors on February 6, 2024, it shall repurchase its common stock pursuant to Article 156 of the Companies Act of Japan, and as applied pursuant to Paragraph 3, Article 165 of the Companies Act. It has also resolved to cancel treasury stocks pursuant to Article 178 of the Companies Act.

1.    Purpose of the Share Repurchase:

Shareholder returns and capital allocation in Midterm Corporate Strategy 2024

2.    Details of share repurchase:

(1).	Class of shares to be repurchased	Common stocks
(2).	Total number of shares to be repurchased	Up to 417 million shares (Represents up to 10% of the total number of outstanding shares (excluding treasury stock))
(3).	Total purchase price for repurchase of shares	Up to 500 billion yen
(4).	Planned period of repurchase	February 7, 2024 to September 30, 2024*
(5).	Method of repurchase	Purchase at the Tokyo Stock Exchange

* This may change in accordance with relevant laws and regulations.

3.    Details of cancellation of treasury stocks:

(1).	Class of shares to be cancelled	Common stocks
(2).	Number of shares to be cancelled	All shares repurchased
(3).	Planned date of cancellation	October 31, 2024

(References)

Amount of treasury stocks as of January 31, 2024

Total number of outstanding shares (excluding treasury stocks): 4,151,576,860 shares

Amount of treasury stocks:                                                            27,441,293 shares*

*133,463,700 shares of treasury stocks were cancelled on January 31, 2024

 

END