Notification of Stock Repurchase and Cancellation of Treasury Stock

LONDON--()-- 

This announcement is for our U.S.$5,000,000,000 Euro Medium Term Note Programme.

To whom it may concern

Mitsui & Co., Ltd.

Notification of Stock Repurchase and Cancellation of Treasury Stock

(Stock Repurchase in accordance with the paragraph 2 of Article 165 of

the Companies Act of Japan and cancellation of a part of treasury stock in accordance with the Article 178 of the Act)

At the meeting of the Board of Directors held on October 30, 2019, Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President & CEO: Tatsuo Yasunaga) resolved to repurchase its stock in accordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of the Companies Act of Japan and to cancel a part of its treasury stock in accordance with Article 178 of the said Act. Details of the repurchase and cancellation are as follows:

1. Purpose of stock repurchase and cancellation of treasury stock:

To enhance shareholder return and to improve capital efficiency.

2. Details of repurchase:

(1) Class of share: Common stock of Mitsui

(2) Total number of shares of common stock to be repurchased: Up to 30,000,000 shares

(1.7% of the total number of shares of common stock outstanding excluding treasury stock)

(3) Total amount: Up to 50,000,000,000 yen

(4) Period: From October 31, 2019 to March 24, 2020

(5) Repurchase method: Auction market on Tokyo Stock Exchange

3. Details of cancellation:

(1) Class of share: Common stock of Mitsui

(2) Total number of shares of treasury stock to be cancelled:

All of the shares of common stock to be repurchased pursuant to 2 above

(Up to 1.7% of the total number of shares outstanding)

(3) Scheduled date of cancellation: April 20, 2020

[Reference]

Status of treasury stock as of September 30, 2019

Number of outstanding shares excluding treasury stock: 1,738,676,145

Number of shares of treasury stock: 4,008,761

For further information, please contact:

Mitsui & Co., Ltd.

Investor Relations Division Tel: +81-3-3285-7657

Corporate Communications Division Tel: +81-3-3285-7596

Notice:

This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Short Name: Mitsui & Co., Ltd.
Category Code: MSCH
Sequence Number: 679315
Time of Receipt (offset from UTC): 20191030T065139+0000

Contacts

Mitsui & Co Ltd

 

Contacts

Mitsui & Co Ltd