Mitsubishi Estate : Notice Concerning the Determination of Share Repurchase
April 08, 2021 at 03:02 am EDT
Share
April 8, 2021
To whom it may concern:
Company name: Mitsubishi Estate Co., Ltd.
Representative:
Junichi Yoshida,
President and Chief Executive Officer
Securities code: 8802
Contact:
Motohiro Sato,
General Manager of the
Corporate Communications Department
Telephone:
+81-3-3287-5200
Notice Concerning the Determination of Share Repurchase
（Repurchase of Shares under Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act）
Mitsubishi Estate Co., Ltd. (hereafter the "Company") resolved to repurchase its own shares under Article 156 which is applicable in accordance with Article 165, Paragraph 3 of the Companies Act, at the board of directors meeting held on April 8, 2021. Details are as follows.
Reasons for the repurchase of own shares
To improve capital efficiency and shareholder value as part of the capital policy in the long-term management plan.
Details of Matters Concerning Repurchase
(1)
Class of shares to be repurchased
Common shares
(2)
Total number of shares to be repurchased
22,000, 000 shares (Maximum)
(1.64 % of outstanding shares (excluding treasury stock))
(3)
Total amount of repurchase price
30 billion yen (Maximum)
(4)
Period of repurchase
From April 9, 2021 to March 31, 2022
(5)
Method of repurchase
Open market purchase on the Tokyo Stock Exchange
(Reference)The status of treasury stock as of December 31, 2020
Total number of outstanding
shares
1,338,573,309 shares
(excluding treasury stock)
Number of treasury stock
52,755,007 shares
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Disclaimer
Mitsubishi Estate Co. Ltd. published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 07:01:06 UTC.
Mitsubishi Estate Co., Ltd. specializes in development, promotion and management of real estate assets. Net sales (including intragroup) break down by activity as follows:
- management and operation of office buildings and shopping centres (55.2%);
- development, management and operation of residentials and condominiums (27.6%);
- real estate asset management (3.2%);
- other (5.2%): primarily hotel and airport management, real estate services (real estate brokerage, leasing, parking management, etc.) and engineering and construction of civil infrastructure.
The remaining net sales (8.8%) are from international real estate management and operation activities.
MITSUBISHI ESTATE CO., LTD. 
