Announcement Regarding Determination of Matters Related to Acquisition of Own Shares

KOITO MANUFACTURING CO., LTD. ("KOITO") announces that it has resolved, at a meeting of the Board of Directors held on March 28, 2024, the matters concerning the acquisition of own shares pursuant to the provisions of Article 156 of the Companies Act, as applied by replacing the relevant terms pursuant to the provisions of Article 165, paragraph (3) of the same Act. The details are described below. 

1．Reason for acquisition of own shares

KOITO's basic policy is to further increase corporate value through business investment aimed at sustainable growth, while at the same time enhancing the return of profits to shareholders, in addition, KOITO has set a target of providing shareholder returns of 200 billion yen or more over the five-year period from FY2025 to FY2029 in the "1st Medium-Term Management Plan" announced today.
  Based on the above, KOITO has set a limit of 35 million shares (maximum total number of shares to be acquired), equivalent to approx. 11% of the total number of shares issued (excluding treasury shares), and ¥50 billion (maximum total amount of shares to be acquired), to enable flexible acquisition of own shares in consideration of share price levels and other factors. 

2．Details of matters related to acquisition

(1) Class of shares to be acquired      Common shares
(2) Total number of shares to be acquired      35 million shares (maximum) (11.37% of total number of issued shares (excluding treasury shares))
(3) Total amount of share acquisition costs      ¥50 billion (maximum)
(4) Acquisition period      From April 1, 2024 to March 24, 2025
(5) Method of acquisition      Market purchase on the Tokyo Stock Exchange 

(Reference) Holding status of treasury shares as of December 31, 2023
Total number of issued shares (excluding treasury shares)      307,774,519 shares
Number of treasury shares      58,653 shares 

Announcement Regarding Determination of Matters Related to Acquisition of Own Shares