TOKYO, Dec 11, 2018 - (JCN Newswire) - At its Board of Directors' meeting held on December 11, 2018, Showa Denko resolved to repurchase its own shares pursuant to Article 156 and Article 165, Paragraph 3 of the Companies Act of Japan, as outlined below.
1. Purpose of Repurchase
To enhance the return to shareholders, improve capital efficiency and implement agile capital policies corresponding to changes in the business environment.
2. Details of Repurchase
(1) Class of shares to be repurchased: Common shares
(2) Total number of shares to be repurchased: Up to 3.0 million (2.02% of total shares outstanding, excluding treasury stock)
(3) Total amount of repurchase: Up to 10 billion yen
(4) Period of repurchase: From December 12, 2018 to March 22, 2019
(Reference) Status of own shares as of June 30, 2018
Total number of shares outstanding (excluding treasury stock): 1,488,813,137
Number of treasury stock shares: 898,155
Note: not including 288,400 shares of treasury stock which the Board Benefit Trust (BBT) has hold.
About Showa Denko K.K.
Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.
Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235.
Dec 11, 2018 13:00 HKT/SGT
Source: Showa Denko K.K.
Showa Denko K.K. (TSE: 4004)
Topic: Press release summary
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