February 22, 2002
Results of Stock Repurchases and
Treasury Stock Cancellation |
NIPPONKOA Insurance Co., Ltd.
President: Ken Matsuzawa
This is to announce that NIPPONKOA Insurance Co., Ltd. has acquired treasury stocks on the
market as follows, in accordance with Article 3, paragraph 4 of the "Supplementary Provisions to the Law Concerning the Amendment of the
Commercial Code", and the relevant provisions of the Articles
of Incorporation.
This concludes a series of our stock repurchases based
on a resolution at the meeting of the Board of Directors held on October 26, 2001.
A meeting of the Board of Directors held today passed a
resolution to cancel treasury stock totaling 10,033,911 shares, of which 10,000,000 shares
were thus repurchased based on the resolution of the Board of Directors passed on October
26, 2001, and the remaining 33,911 shares were acquired by requests of holders of stocks
less than the minimum trading unit.
1. Period of repurchase: From January 28, 2002 to
February 18, 2002
2. Number of shares repurchased: 2,752,000 shares
3. Total amount of repurchase: 1,182,396,000 yen
(Reference 1) Cumulative number and amount of shares repurchased up to
February 18, 2002: |
| (1) |
Number
of shares repurchased: 10,000,000 shares |
| (2) |
Total
amount of repurchase: 4,396,338,000 yen
|
(Reference 2) Contents of resolution of the Board of Directors passed on
October 26, 2001: |
(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 |
(Reference 3)
|
| (1) |
Total number of shares that can be purchased and
cancelled as provided for in the Articles of Incorporation: 80,000,000 shares |
| (2) |
Total number of shares acquired after the date
specified by the Articles of Incorporation (April 2, 2001): 10,000,000 shares |
|
