 |
|
|
| Apr 27, 2005 |
|
|
DENSO Announces Stock Purchase Proposal
|
|
|
In Accordance with Provisions of Article 210 of Japan's Commercial Code
|
|
|
Tokyo - DENSO Corporation (the "Company") announced that its board of directors agreed to present to shareholders a stock repurchase proposal (in accordance with Article 210 of Japan's Commercial Code). This proposal will be presented on June 22, at the 82nd Annual General Meeting of Shareholders.
|
|
|
1. Purpose of the stock purchase
The Company will purchase its stock after obtaining approval from the shareholders in accordance with Article 210 of Japan's Commercial Code. The purchase of the stock will improve capital efficiency, and increase returns to shareholders. Also, the shareholder approval will enable the Company to adopt timely and flexible capital policy measures in response to changes in the business environment.
|
|
|
2. Information on the shares to be purchased by the Company
(1) Type of shares to be purchased: Common stock
(2) Total number of shares to be purchased: Up to 10,000,000 shares
(1.2 percent of total outstanding shares)
(3) Total cost of the purchase: Up to 27 billion yen
|
|
|
Note:
Following shareholder approval at the 82nd Annual General Meeting of Shareholders on June 22, 2005, the Company will be authorized to purchase its stock until the completion of the 83rd Annual General Meeting of Shareholders.
|
|
|
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs 104,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2005 totaled US$26.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com
|
|
|
|
|
|
|
|
|
