(In Accordance with Article 156 of the Companies Act)
Toyota Industries Corporation (the “Company”), announced that a resolution was adopted at the board of directors' meeting held today to repurchase shares of its common stock under Article 156 of the Companies Act.
- Purpose of the stock repurchase
The purpose is to improve capital efficiency, to return profits to shareholders and, to enable flexible and agile implementation of capital policies in response to changes in the business environment.
The Company obtained approval of the repurchase of the common stock at the Ordinary General Meeting of Shareholders on June 10, 2016, in accordance with Article 156 of the Companies Act. Based on the approval, the Company resolved the contents of repurchase at the board of directors' meeting held on July 29, 2016.
- Contents of repurchase
(1) Class of shares to be repurchased Common stock (2) Total number of shares to be repurchased Up to 4,000,000 shares
(1.27 percent of total outstanding shares)
(3) Total cost of the repurchase Up to 18 billion yen (4) Method of repurchase Discretionary trading by a investment bank (5) Period of repurchase From August 16 to November 30, 2016
Number of treasury stock as of June 30, 2016:
Total number of outstanding shares
(excluding treasury stock)
314,228,149 shares Number of treasury stock 11,612,491 shares
Details of the resolution approved at the shareholders' meeting held on June 10, 2016:
(1) Class of shares to be repurchased Common stock (2) Total number of shares to be repurchased Up to 4,000,000 shares (3) Total cost of the repurchase Up to 18 billion yen (4) Period of repurchase From June 10, 2016 to June 9, 2017
The total number and cost of shares repurchased as of July 29, 2016, is as follows:
(1) Total number of shares to be repurchased 0 shares (2) Total cost of the repurchase 0 yen