The Company announced today that the May 12, 2005, meeting of the Board of Directors passed a resolution to submit a proposal to the 102nd Ordinary General Shareholders' Meeting to be held on June 29, 2005, to purchase treasury stock subject to Article 210 of the Commercial Code. Additional details are provided below.
Reason for purchase of treasury stock
The treasury stock is intended for use in the company's stock option plan.
Details of treasury stock to be purchased (Effective from the end of the 102nd Ordinary General Shareholders' Meeting until the end of the next Ordinary General Shareholders' Meeting)
- Stock to be purchased: Common shares of Daikin Industries, Ltd.
- Maximum number of shares to be purchased: 160,000 shares
(0.06% of the outstanding shares)
- Maximum total acquisition cost: ¥600,000,000
Note: The purchase of treasury stock mentioned above shall be subject to approval of the 102nd Ordinary General Shareholders' Meeting.