TOKYO--(BUSINESS WIRE)--Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced that it has resolved at the Meeting of Board of Directors held on February 25, 2020 to authorize an acquisition of own shares up to a prescribed limit pursuant to the Article 156 of the Corporate Law of Japan as applied pursuant to Article 165, §3 of the same.
1. Reasons for acquisition of own shares
To enhance shareholder returns and capital efficiency and to carry out flexible financial operation in response to changes in the business environment.
2. Details of acquisition
- Type of shares to be acquired: Common stock of Renesas
Total number of shares that may be acquired: Up to 20,000,000 shares
(1.17* percent of the total number of shares issued, excluding treasury stock)
*The figure is rounded to three decimal places.
- Total amount of purchase price: Up to 10 billion yen
Period for share acquisition: From March 26, 2020 to March 25, 2021 (one year)
(Reference) Treasury stock held by Renesas as of December 31, 2019
Total number of shares issued (excluding treasury stock): 1,710,274,209 sharesN
umber of treasury stock: 2,581 shares
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.