October 26, 2001
| Notice of Stock Repurchases |
NIPPONKOA Insurance Co., Ltd.
President: Ken Matsuzawa
This is to announce that the Board of Directors of NIPPONKOA Insurance Co., Ltd. on
October 26, 2001 passed a resolution in regard to treasury stock acquisitions in
accordance with Article 3, paragraph 1 of the former "Law Concerning Special
Exceptions to the Commercial Code Relating to the Procedure for Cancellation of
Shares," under the application of Article 3, paragraph 4 of the "Supplementary
Provisions to the Law Concerning the Partial Amendments of the Commercial Code, etc."
| 1. Outline of Repurchase Program |
| |
(1) |
Type of shares to be acquired: Common stock |
| |
(2) |
Number of shares to be acquired: (Not exceeding) 10
million shares |
| |
(3) |
Aggregate acquisition cost: (Not exceeding) 5 billion
yen |
| 2. Purpose |
| |
We intend to enhance capital efficiency by
retaining the repurchased shares as treasury stock, and to increase shareholder profit by
canceling them in the future and thereby reducing the number of shares issued. |
| (Reference) |
| |
(1) |
Total number of shares that can be purchased and
cancelled as provided for in the Articles of Incorporation: 80 million shares |
| |
(2) |
Total number of shares acquired after the date
specified by the Articles of Incorporation (April 2, 2001): Nil |
|
