Notice Regarding Share Repurchase Program (Share repurchase based on the Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act)
SMS Co., Ltd. hereby announces that, on October 27, 2023, its Board of Directors has resolved on matters relating to a share repurchase program based on Article 156 of the Companies Act, as applied by replacing the terms with Article 165, paragraph 3 of the Companies Act.
１．Reasons for Share Repurchase
This share repurchase is intended to enable flexible implementation of capital policies in response to changes in the business environment.
２．Details of Share Repurchase
| (1) Class of shares to be repurchased | Common shares of SMS Co., Ltd. |
| (2) Total number of shares to be repurchased | 883,100 shares (maximum)* (1.01% of total shares outstanding (excluding treasury shares)) |
| (3) Aggregate repurchase price | 2 billion yen (maximum) |
| (4) Repurchase period | From October 30, 2023 to December 31, 2023 |
| (5) Repurchase method | Market purchase based on a discretionary trading agreement |
* The total number of shares to be repurchased is calculated based on the aggregate repurchase price of 2 billion yen and the closing price (2,264.5 yen) on October 26, 2023, which is one business day before the Board resolution, and the number of shares less than one unit is rounded down.
(Reference) Treasury shares held as of September 30, 2023
| Total number of shares outstanding (excluding treasury shares) | 87,560,915 shares |
| Total number of treasury shares | 685 shares |
Notice Regarding Share Repurchase Program (Share repurchase based on the Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act)