Matsushita to Execute Own Share Repurchase.OSAKA Osaka (ō`säkä), city (1990 pop. 2,623,801), capital of Osaka prefecture, S Honshu, Japan, on Osaka Bay, at the mouth of the Yodo River. , Japan -- Matsushita Electric Industrial Co., Ltd. [NYSE NYSE See: New York Stock Exchange :MC], best known for its Panasonic
tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. its own shares, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan. 1. Reason for Share Repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. This resolution is a part of continuing efforts to enhance shareholder value per share and profitability of capital. 2. Details of Share Repurchase 1) Class of shares: Common stock 2) Aggregate number of repurchasable shares: Up to 50 million shares (2.0% of the total number of shares issued) 3) Aggregate repurchase amount: Up to 100 billion yen 4) Period of repurchase: From May 1, 2007 to late March 2008 (Reference) Total number of shares issued and treasury stock as of March 31, 2007: * Total number of shares issued (excluding treasury stock): 2,146,284,458 shares * Treasury stock: 306,769,039 shares |
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