Company Announcements

NOTICE REGARDING STOCK REPURCHASES

Source: RNS
RNS Number : 0598I
Nippon Telegraph and Telephone Corp
06 August 2019
 

August 6, 2019

 

                  

 

 

 

 

 

 

 

 

Company Name: Nippon Telegraph and Telephone Corporation

 

 

 

 

Representative: Jun Sawada, President and Chief Executive Officer

 

 

 

 

(Code No.: 9432, First section of Tokyo Stock Exchange)

 

Notice regarding Stock Repurchases
(Under the Provisions of NTT's Articles of Incorporation pursuant to
Paragraph 2, Article 165 of the Companies Act of Japan)

 

Nippon Telegraph and Telephone Corporation ("NTT") hereby announces that, at a meeting of its Board of Directors held today, NTT authorized repurchases of shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the "Companies Act"), as applied pursuant to Paragraph 3, Article 165 of the Companies Act, as described below.

 

 

1.      Reasons for Stock Repurchases:

To improve capital efficiency and enhance shareholder returns.

 

2.      Details of Repurchases:

(1)     Total number of shares to be repurchased:

Up to 53 million shares of common stock

(Ratio to the number of outstanding shares*: 2.84%)

(2)     Aggregate repurchase amount:

Up to 300 billion yen

(3)     Period of repurchases:

August 7, 2019 ~ September 30, 2019

(4)     Method of repurchases:

Through the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) (Planned)

 

3.      Other:

NTT plans to acquire the number of shares of its common stock (up to 48,666,710 shares) whose sale proceeds have been accounted for under the Japanese government's fiscal 2019 budget.

 

(For reference) Number of shares of treasury stock (as of July 31, 2019)

    Number of outstanding shares*                      1,866,603,233 shares

                          Number of shares of treasury stock              83,791,237 shares
*Excluding shares of treasury stock.

 

For further inquiries, please contact:

 

Masayoshi Inoue or Takayuki Kimura

Investor Relations Office

Finance and Accounting Department

Nippon Telegraph and Telephone Corporation

Contact us by email:

https://www.ntt.co.jp/ir/form_e/ref_contact.html

 


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