Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Notice Regarding Authorization of Acquisition of Own Shares Up to Prescribed Limit

March 25, 2019 GMT

TOKYO--(BUSINESS WIRE)--Mar 25, 2019--Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced that it has resolved at the Meeting of Board of Directors held on March 25, 2019 to authorize an acquisition of own shares up to a prescribed limit pursuant to the Article 156 of the Corporate Law of Japan as applied pursuant to Article 165, §3 of the same.

1. Reasons for acquisition of own shares

To enhance shareholder returns and capital efficiency and to carry out flexible financial operation in response to changes in the business environment.

2. Details of acquisition

(1) Type of shares to be acquired: Common stock of Renesas

(2) Total number of shares that may be acquired: Up to 20,000,000 shares

(1.20* percent of the total number of shares issued, excluding treasury stock)

*The figure is rounded to two decimal places.

(3) Total amount of purchase price: Up to 10 billion yen

(4) Period for share acquisition: From March 26, 2019 to March 25, 2020 (one year)

(Reference) Treasury stock held by Renesas as of December 31, 2018

Total number of shares issued (excluding treasury stock): 1,668,385,390 shares

Number of treasury stock: 2,581 shares

About Renesas Electronics Corporation

Renesas Electronics Corporation ( TSE: 6723 ) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.

(Remarks) All other names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190324005053/en/

CONTACT: Media Contacts

Kyoko Okamoto

Renesas Electronics Corporation

+81 3-6773-3001

pr@renesas.comInvestor Contacts

Hirokazu Kato

Renesas Electronics Corporation

+81 3-6773-3002




SOURCE: Renesas Electronics Corporation

Copyright Business Wire 2019.

PUB: 03/25/2019 02:30 AM/DISC: 03/25/2019 02:30 AM