{"id":15431,"date":"2020-04-06T17:00:31","date_gmt":"2020-04-06T08:00:31","guid":{"rendered":"https:\/\/www.dreamincubator.co.jp\/?post_type=ir-news&#038;p=15431"},"modified":"2022-06-01T10:25:47","modified_gmt":"2022-06-01T01:25:47","slug":"notice-regarding-resolution-of-share-repurchase","status":"publish","type":"ir-news","link":"https:\/\/www.dreamincubator.co.jp\/en\/news\/ir\/2020\/ir_15431\/","title":{"rendered":"Notice regarding Resolution of Share Repurchase"},"content":{"rendered":"<p style=\"text-align: right;\">April 6, 2020<\/p>\n<p>Dream Incubator Inc. (\u201cDI\u201d) hereby announces today that its Board of Directors resolved the repurchase of its own shares pursuant to Article 156 of the Companies Act of Japan as applied by replacing terms and phrases pursuant to the provisions of Article 165, Paragraph 3 of such act.<\/p>\n<p>&nbsp;<\/p>\n<p>\uff11\uff0ePurpose<\/p>\n<p style=\"padding-left: 40px;\"><strong>Enhancement of shareholder returns<\/strong><br \/>\nStarting from financial results for FY03\/19, DI has been applying Net Asset Value (NAV) as a metric to fairly disclose its value. With its share price trending notably below NAV per share, DI has determined that a share repurchase program will be an effective approach to raise its shareholder value.<\/p>\n<p>&nbsp;<\/p>\n<p>\uff12\uff0eDetails<\/p>\n<p style=\"padding-left: 40px;\">\uff08\uff11\uff09Class of shares to be repurchased: \u00a0 \u00a0 Common stock of DI<br \/>\n\uff08\uff12\uff09Total number of repurchase shares: \u00a0 \u00a0 250,000 (maximum) (2.57% of outstanding shares excluding treasury stock)<br \/>\n\uff08\uff13\uff09Total repurchase amount: \u00a0 \u00a0 JPY 300,000,000 (maximum)<br \/>\n\uff08\uff14\uff09Repurchase period: \u00a0 \u00a0 From April 8, 2020 to March 31, 2021<\/p>\n<p>&nbsp;<\/p>\n<p>Towards the future, DI plans to flexibly conduct share repurchases whenever its share price trends notably lower than NAV per share.<\/p>\n<p>&nbsp;<\/p>\n<p>\uff08Reference\uff09<\/p>\n<p>\uff11\uff0eTreasury stock held as of February 28, 2020<\/p>\n<p style=\"padding-left: 40px;\">Total number of shares outstanding (excluding treasury stock): 9,743,262<br \/>\nNumber of shares of treasury stock: 638,138<\/p>\n<p style=\"padding-left: 40px;\">Note: Number of shares of treasury stock includes company shares reserved for the board incentive plan (BIP) trust and the employee stock ownership plan (ESOP) trust.<\/p>\n<p>&nbsp;<\/p>\n<p>\uff12\uff0eAbout Net Asset Value (NAV)<\/p>\n<p style=\"padding-left: 40px;\">Most recent announcement of NAV (as of December 31, 2019):<br \/>\n<a href=\"https:\/\/www.dreamincubator.co.jp\/wp-content\/uploads\/2020\/02\/IR_20200131_KTHSK3Q-en.pdf\">https:\/\/www.dreamincubator.co.jp\/wp-content\/uploads\/2020\/02\/IR_20200131_KTHSK3Q-en.pdf<\/a><\/p>\n<h4>PDF of this press release<\/h4>\n<p><a href=\"https:\/\/www.dreamincubator.co.jp\/wp-content\/uploads\/2020\/04\/ir-20200406-en.pdf\" target=\"_blank\" rel=\"noopener\">pdf<\/a><\/p>\n<h4>For further information<\/h4>\n<p>Dream Incubator Inc.<br \/>\nTEL\uff1a 81-3-5532-3200<\/p>\n","protected":false},"author":1,"template":"","class_list":["post-15431","ir-news","type-ir-news","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/ir-news\/15431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/ir-news"}],"about":[{"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/types\/ir-news"}],"author":[{"embeddable":true,"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":8,"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/ir-news\/15431\/revisions"}],"predecessor-version":[{"id":17450,"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/ir-news\/15431\/revisions\/17450"}],"wp:attachment":[{"href":"https:\/\/www.dreamincubator.co.jp\/en\/wp-json\/wp\/v2\/media?parent=15431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}