SoftBank Corp. (hereinafter, the “Company”) hereby announces that the Board of Directors of the Company resolved to set up a share buyback program, pursuant to the Company’s articles of incorporation in accordance with Article 459, Paragraph 1 of the Companies Act of Japan as follows, on May 10, 2023.
1. Purpose of the share buyback program
The Company’s basic policy is to pay stable and continuous per-share dividends, and to flexibly consider implementing share buyback programs, with a ratio of total shareholder returns to net income attributable to owners of the SoftBank Corp. of approximately 85%* during the three years from the fiscal year ended March 31, 2021 through the fiscal year ended March 31, 2023. Following this policy on shareholder returns, the Company intends to purchase a portion of shares to be retired.[Note]
- *Total amount of dividends paid and treasury stock retired during the three years from the fiscal year ended March 31, 2021 through the fiscal year ended March 31, 2023 divided by total amount of net income attributable to owners of the Company during the same three years
2. Details of the share buyback program
| (1) Type of shares to be acquired | Common stock |
|---|---|
| (2) Total number of shares to be acquired | Up to 56,300,000 shares (1.19% of total shares outstanding (excluding treasury stock)) |
| (3) Total amount to be paid for acquisition | Up to JPY 100 billion |
| (4) Period of acquisition | May 11, 2023 to March 31, 2024 |
| (5) Method of acquisition | Market purchase on the Tokyo Stock Exchange, Inc. through a discretionary investment account trade to a securities company |
(Reference) Treasury stock holdings as of March 31, 2023
| Total number of shares outstanding (excluding treasury stock) | 4,731,548,827 shares |
|---|---|
| Number of shares of treasury stock | 55,596,343 shares |
Source link:https://www.softbank.jp/
