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Tokyo, May 13, 2004 - CSK CORPORATION ("CSK") today announced that at a meeting of its board of directors held on May 13, 2004 it resolved to repurchase CSK shares that are held by subsidiary companies, as per Article 211, Clause 3, Section 1-1 of the Commercial Code.
| 1. |
Subsidiaries involved |
CSK Communications Corporation |
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ServiceWare Corporation |
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CSK FINANCE CO., LTD. |
| 2. |
Details of repurchase |
|
(1) |
Class of shares to be repurchased |
CSK ordinary shares |
|
(2) |
Number of shares to be repurchased |
694,000 shares |
(0.9% of shares outstanding) |
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(3) |
Total share repurchase amount |
Up to ¥4 billion |
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(4) |
Planned date of repurchase |
May 31, 2004 |
| 3. |
Reason for repurchase |
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CSK plans to repurchase ordinary shares in CSK that were allocated to these subsidiaries following a share swap with CSK Communications on February 1, 2003 and a share swap with CSK Network Systems on May 1, 2003. |
| (For reference) |
Treasury stock held as of April 30, 2004 |
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Total number of shares outstanding (excluding treasury stock) |
76,268,681 shares |
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Number of treasury shares |
318,098 shares
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