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Kobe Steel Announces Share Buyback Program
Purchase of shares pursuant to the provisions of Article 459.1 of the Corporation Law and the Company's Articles of Incorporation
March 1, 2007
TOKYO, March 1, 2007 - Kobe Steel, Ltd. announced that its
Board of Directors today approved the buyback of shares under Article 459.1 of
the Corporation Law of Japan and the company's Articles of Incorporation.
1.
Reason for Share Buyback
To implement a more flexible capital policy.
2.
Details of the Program
(1) Class of shares to be purchased:
Common stock
(2)Number of shares to be purchased:
Up to 120 million shares
(3.85% of total issued shares)
(3)Total purchase price:
Up to 50 billion yen
(4)Purchase period:
From March 2, 2007 to April 18, 2007
Note: Treasury shareholdings as of September
30, 2006
Total number of issued shares(excluding treasury
shares):
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