December 10, 2004
Board Resolution Concerning Stock
Repurchase
(Treasury stock acquisitions pursuant to Article 211-3, Section 1,
Paragraph 2 of the Commercial Code) |
To whom it may concern:
NIPPONKOA Insurance Co., Ltd.
President: Ken Matsuzawa
This is to announce that a meeting of the Board of Directors of NIPPONKOA Insurance Co.,
Ltd. held on December 10, 2004 passed a resolution in regard to treasury stock
acquisitions as follows, pursuant to Article 211-3, Section 1, Paragraph 2 of the
Commercial Code.
| 1. Purpose of repurchase: |
|
To increase shareholder interest through improvement of capital efficiency |
| 2. Details of the repurchase to be made: |
|
(1) Type of shares to be repurchased: |
|
|
|
Common stock of NIPPONKOA Insurance Co., Ltd. |
|
(2) Number of shares to be repurchased: |
|
|
|
Up to 10 million shares (1.20f the total number of shares outstanding) |
|
(3) Aggregate acquisition cost: |
|
|
|
Up to 7.5 billion yen |
|
(4) Period in which repurchase may be made: |
|
|
|
From December 13, 2004 to the end of the next ordinary general meeting of
shareholders |
(Reference) Treasury stock as of November 30, 2004:
|
Total number of shares outstanding (excluding treasury stock):
|
823,349,778 shares |
|
Number of treasury stock:
|
10,393,340 shares |
|
