Canon to Buy Back 1.8% of Outstanding Shares

From Canon:
 
Canon Inc. (the “Company”) passed a Board of Directors’ resolution on February 25, 2020, regarding the acquisition of its own shares under Article 156, as applied pursuant to paragraph 3, Article 165, of the Corporation Law, as follows.
 
Purpose of acquisition of own shares
The Company decided to acquire its own shares with the aim of improving capital efficiency and ensuring a flexible capital strategy that provides for such future transactions as share exchanges.
 
Details of acquisition

 
Type of shares to be acquired:Shares of common stock
Total number of shares to be acquired:Up to 19.2 million shares
(Equivalent to 1.8% of outstanding shares
(Excluding treasury stock))
Total cost of acquisition:Up to 50 billion yen
Period of acquisition:From February 26, 2020 to May 27, 2020

Possession of treasury stock as of February 21, 2020
Number of outstanding shares (Excluding treasury stock) – 1,063,833,567 shares
Number of treasury stock – 269,929,897 shares
Posted: 2/25/2020 5:06:01 AM CT   Posted By: Sean
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