Announcement of Share Repurchases
Nov. 30, 2020
Recruit Holdings Co.,Ltd.
TOKYO, JAPAN (November 30, 2020) - Recruit Holdings Co., Ltd. (TSE: 6098) (the "Company") announced that its Board of Directors resolved today to implement a share repurchase program (the "Share Repurchases") of a maximum aggregate total purchase price of 70.0 billion yen as set forth below.
1. Reasons for the Share Repurchases
In line with the Company's capital allocation policy, the Company has decided to conduct the Share Repurchases upon consideration of multiple factors including the Company's capacity to pursue investments, the capital market environment, and the outlook for its financial position. Based on a comprehensive assessment of these factors, as well as the balance of supply and demand of its share in the aftermarket following the secondary offering announced today in the release titled "Announcement of Secondary Offering of Shares in the International Markets" (the "Offering"), the Company has decided to pursue these Share Repurchases as a way to enhance shareholder value.
2. Details of the purchase
|(1) Class of shares to be repurchased||Common stock of Recruit Holdings Co., Ltd.|
|(2) Total number of shares to be repurchased||20,000,000 shares (maximum)
(up to 1.21% of total number of shares issued and outstanding (excludes treasury stock))
|(3) Total purchase price||70.0 billion yen (maximum)|
|(4) Period for the Share Repurchases||From the business day immediately following the settlement date for the Offering (i.e., from the third business day following the pricing date for the Offering, which is expected to fall on any day in the period from Wednesday, December 2, 2020 through Thursday, December 3, 2020) through Friday, February 26, 2021*|
|(5) Method of repurchases||Market purchases on the Tokyo Stock Exchange, Inc. through an appointed securities dealer with investment discretion|
* If the pricing date falls on Wednesday, December 2, 2020, the repurchases will occur from Monday, December 7, 2020 through Friday, February 26, 2021.
If the pricing date falls on Thursday, December 3, 2020, the repurchases will occur from Tuesday, December 8, 2020 through Friday, February 26, 2021.
Treasury stock held as of September 30, 2020
- Total number of shares issued and outstanding (excludes treasury stock) 1,650,711,397 shares
- Total number of shares of treasury stock 45,248,633 shares
This press release is not an offer to sell or a solicitation of any offer to buy the securities of Recruit Holdings Co., Ltd. in the United States or elsewhere. The securities referenced in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act").The securities may not be offered or sold in the United States absent registration or an examption from registration under the Securities Act. The securities will not be publicly offered or sold in the United States.