SUMITOMO CORPORATION (SUMITOMO SHOJI KAISHA,LTD.) [8053.T]
TOKYO, May 01 (Pulse News Wire) – Sumitomo Corporation (sumitomo Shoji Kaisha,ltd.) (8053.T) announced today that its board of directors, held on May 01, 2026, resolved to repurchase shares based on Article 165(3) of the Companies Act, which applies Article 156 provisions. Additionally, the company plans to cancel shares according to Article 178 of the Companies Act.
To enhance capital efficiency and strengthen shareholder returns, the company intends to repurchase up to 800 ordinary shares, representing approximately 0.002% of outstanding shares excluding treasury stock. The total cost of the repurchase will be capped at 800 million yen. The repurchase will take place through open-market purchases on the Tokyo Stock Exchange from May 07, 2026, until March 31, 2027.
Furthermore, the company will cancel all repurchased shares on April 09, 2027. As of March 31, 2026, the company had 148,900,000 outstanding shares excluding treasury stock and held 1,000 treasury shares. This decision reflects the company's commitment to optimizing capital structure and enhancing shareholder value.
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