Fujitsu Limited announced that its Board of Directors decided today to acquire shares of the company's own stock in accordance with Article 156 of the Company Law as applied in lieu of Article 165, Section 3 of the same law. Details are explained below.
1. Reason for Acquiring Own Shares
On January 29, 2010, Fujitsu announced the conversion of PFU Limited into a wholly owned subsidiary through an exchange of shares. Pursuant to the exchange of shares, Fujitsu is acquiring its own shares for allotment to PFU shareholders.
Uchida Yoko Co., Ltd., a shareholder of PFU, has announced its intention not to accept the exchange of shares, and instead will request PFU to repurchase its shareholdings. PFU will repurchase the shares from Uchida Yoko and retire the shares on the effective date of the exchange of shares. The calculations below regarding the number of own shares Fujitsu will acquire therefore deduct this amount of shares from the total.
2. Transaction Details
|(1) Type of stock to be acquired:||Fujitsu common stock|
|(2) Number of shares to be acquired:||600,000 shares (maximum) |
(representing 0.03% of outstanding shares,
excluding treasury stock)
|(3) Total value of shares to be acquired:||400 million yen (maximum)|
|(4) Period of acquisition:||Between February 25, 2010 and March 31, 2010|
|(5) Method of acquisition:||Market transaction during above period|
Treasury stock holdings as of January 31, 2010:
|Number of outstanding shares (excluding treasury stock):||2,065,489,401 shares|
|Treasury stock held:||4,528,812 shares|
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 175,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please see: www.fujitsu.com.
Date: 24 February, 2010
Company: Fujitsu Limited, , , , ,