This document is a translated version of the Japanese original. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 20, 2020

Notice regarding the decision of matters pertaining to share repurchase

(share repurchase pursuant to the Articles of Incorporation based on Article 165, Paragraph 2 of the Companies Act)

Taiheiyo Cement Corporation (the "Company") hereby announces that the following matters pertaining to the repurchase of its shares were approved at the meeting of its Board of Directors held on May 20, 2020, pursuant to the provisions of Article 156 of the Companies Act as applied by replacing certain terms under the provisions of Article 165, Paragraph 3 of the same Act.

1. Reasons for the share repurchase

Based on the Company's Medium-Term Management plan, the Company will repurchase its shares in order to enhance shareholder returns.

2. Details of the repurchase

(1) Class of shares to be repurchased

Common shares of the Company

(2) Total number of shares to be repurchased

3,000,000 shares (maximum)

(2.44% of the total number of shares issued (excluding treasury stock))

(3) Total repurchase amount

¥5.0 billion (maximum)

(4) Period for the repurchase

From May 21, 2020 to July 31, 2020

(5) Method of the repurchase

Purchase through the Tokyo Stock Exchange

(Reference) Status of treasury stock held as of March 31, 2020

- Total number of shares issued (excluding treasury stock)

- Number of treasury stock

122,711,750 shares 4,428,528 shares

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Taiheiyo Cement Corporation published this content on 20 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2020 07:50:03 UTC