Acquisition of Own Shares Pursuant to Articles of Incorporation under the Provision of Article 165, Paragraph 2 of Companies Act of Japan
TOKYO, Japan – Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced that it has resolved at the Meeting of Board of Directors held on March 25, 2019 to authorize an acquisition of own shares up to a prescribed limit pursuant to the Article 156 of the Corporate Law of Japan as applied pursuant to Article 165, §3 of the same.
1. Reasons for acquisition of own shares
To enhance shareholder returns and capital efficiency and to carry out flexible financial operation in response to changes in the business environment.
2. Details of acquisition
- Type of shares to be acquired: Common stock of Renesas
- Total number of shares that may be acquired: Up to 20,000,000 shares
(1.20* percent of the total number of shares issued, excluding treasury stock)
*The figure is rounded to two decimal places.
- Total amount of purchase price: Up to 10 billion yen
- Period for share acquisition: From March 26, 2019 to March 25, 2020 (one year)
(Reference) Treasury stock held by Renesas as of December 31, 2018
Total number of shares issued (excluding treasury stock): 1,668,385,390 shares
Number of treasury stock: 2,581 shares
(Remarks) All other names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.