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The Kansai Electric Power Co., Inc. (Code: 9503)
6-16 Nakanoshima 3-chome, Kita-ku, Osaka
(URL http://www.kepco.co.jp)
Company Representative: Shosuke Mori, President and Director
Contact: Yasushi Sugimoto, General Manager, Office of Financing and Accounting
Tel: +81-6-6441-8821
Kansai Electric Power Co., Inc. (the Company) hereby announces that it has decided the method for purchasing its own shares, pursuant to Article 211-3, Paragraph 1, Item 2 of Japanese Commercial Code. The details are as follows.
1. Method of purchasing shares
The Company will place an order to repurchase shares at 8:45 a.m. on November 29, 2005 through ToSTNeT-2 (Tokyo Stock Exchange Trading Network). The price of the shares in purchase order will be 2,580 yen, the closing price of the Company's shares on the Tokyo Stock Exchange today, November 28, 2005 (there will be no change to the trading time or system). The aforementioned repurchase order applies only to the time mentioned above.
2. Details of stock purchase
| (1) |
Class of shares to be repurchased: |
Kansai Electric ordinary shares |
| (2) |
Number of shares to be repurchased: |
1,100,000 shares |
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Note 1: |
The number of shares to be purchased will not change. Depending on the market conditions, however, there is a possibility that a part or all of such shares may not be repurchased. |
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Note 2: |
An appropriate offer will be made to purchase the target number of stock. |
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3. Announcement of results
The results of the purchase will be announced after the planned transaction at 8:45 a.m., November 29, 2005.
(Reference) Detail of the share-buyback program agreed at the board meeting on November 7, 2005
| Class of shares to be repurchased: |
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Kansai Electric ordinary shares |
| Maximum number of shares: |
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5,750,000 shares |
| Maximum amount of repurchase: |
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15,000 million yen |
| Cumulative total of shares repurchased as of November 28, 2005 |
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Number of shares repurchased: |
4,650,000 shares |
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Repurchase amount |
11,857,377,000 yen |
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