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| February 12, 2008 |
| Mitsubishi Rayon Co., Ltd. |
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Notice Regarding Acquisition of Company’s Own Shares
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(Buyback of shares pursuant to the provision of its Articles of Incorporation in accordance with Article 165, paragraph 2 of the Corporation Law)
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Mitsubishi Rayon Co., Ltd. herein announces its decision, made at the Board of Directors meeting held February 12, 2008, to purchase outstanding shares of the Company up to a maximum of ¥10 billion, as provided for in Article 156 of the Corporation Law, under which the provisions of Article 165, paragraph 3 of the Law are applicable.
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| 1. |
Reasons for the share purchase |
| To reduce the number of outstanding
shares to enable the Company to respond flexibly to changes in the business
environment. |
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| 2. |
Details |
| (1) |
Type of shares to be purchased:
ordinary shares |
| (2) |
Maximum number of shares to be purchased:
30,000,000 shares (5% of the total number of shares issued) |
| (3) |
Total price to be paid for share purchase:
10,000,000,000 yen (upper limit)
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| (4) |
Period of purchase:
February 15, 2008 to March 14, 2008
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Reference:
Treasury stock (as of January 31, 2008) |
| Total number of shares issued and outstanding: 599,357,761 |
| The number of shares in treasury: 640,059 |
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| For further inquiries, please contact: |
| Public and Investor Relations Office |
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The contents shown herein are accurate as of the time of posting.
