Sompo : Announcement regarding Details of Share Buybacks and Cancellation of Treasury Stock
November 19, 2021 at 12:53 am EST
Share
[English Translation]
November 19, 2021
To Whom It May Concern:
Company Name: Sompo Holdings, Inc.
Representative: Kengo Sakurada, Group CEO
President and Representative
Executive Officer
(Stock Code: 8630, the first section of Tokyo Stock Exchange, Inc.)
Contact: Shimpei Aida
General Manager, Office of Group CFO
Tel: +81-3-3349-3913
Announcement regarding Details of Share Buybacks and Cancellation of Treasury Stock
(Share buybacks in accord with articles of incorporation provisions set pursuant to Article 165, paragraph 2 of the Companies Act and cancellation of treasury stock pursuant to Article 178 of the Companies Act)
Sompo Holdings, Inc. (the "Company") announces that its Board of Directors met on November 19, 2021 and passed a resolution setting out details of the Company's share buybacks to be conducted in accord with Article 156 of the Companies Act applied pursuant to Article 165, paragraph 3, of the Act. And the Company also resolved to cancel a portion of the Company's treasury stock, pursuant to Article 178 of the Companies Act. Details are as follows:
1. Share buybacks
Reason for share buybacks
While maintaining financial soundness and improving capital efficiency by investing in growth fields, the Company has the shareholder return policy of paying basic return (50% of adjusted consolidated profit) and providing supplementary return depending on financial performance, financial market environment, and capital conditions, by dividend and share buybacks.
In accordance with this policy, the Company will conduct share buybacks as supplementary return.
Details of share buybacks
(ⅰ) Class of shares:
Common stock of the Company
(ⅱ) Potential total number:
6,000,000 shares (upper limit)
(1.73% of issued and outstanding shares (net of treasury stock))
(ⅲ) Total price:
¥ 20,000,000,000 (upper limit)
(ⅳ) Period:
December 1, 2021 － March 31, 2022
2. Details of the cancellation of treasury stock
(1) Class of shares to be cancelled:
(2) Number of shares to be cancelled:
Total number of issued shares (after the cancellation):
Scheduled date of the cancellation:
Common stock of the Company 25,631,800 shares
(6.87% of the total number of shares before the cancellation) 347,698,689 shares
November 30, 2021
(For reference) Treasury stock holding of the Company as of October 31, 2021
Number of issued and outstanding shares (net of treasury stock)
347,796,185 shares
Number of shares held in treasury stock
25,534,304 shares
(End of Document)
Attachments
Original Link
Original Document
Permalink
Disclaimer
Sompo Holdings Inc. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 05:52:06 UTC.
Sompo Holdings Inc. is one of the Japanese largest insurance groups. Revenues break down by activity as follows:
- non-life insurance (64.3%): automobile insurance (62.7% of net premiums written), fire insurance (14%), accident insurance (7%), marine insurance (1.9%) and other (14.4%);
- overseas non-life insurance (21.4%);
- life insurance (9.9%);
- health care services (4%);
- other (0.4%).
SOMPO HOLDINGS INC. 
