Sansan, Inc. (“the Company”) announces today that a resolution was passed at the meeting of its Board of Directors held on July 11, 2024, regarding the following matters pertaining to share repurchases in accordance with the provisions of its Articles of Incorporation in accordance with Article 459, Paragraph 1, Item 1 of the Companies Act.
1. Reason for Share Repurchases
Because the Company’s business is in a growth phase, along with strengthening our financial position and improving our internal reserves for further business expansion, we believe that making allocations for business expansion will lead to the greatest return on profits to our shareholders, which is why we have not conducted shareholder returns until now.
As announced today, in addition to the Company’s strong performance for the fiscal year ended May 31, 2024 that was driven by growth in our main business, we have set medium-term financial policy to accelerate profit growth while continuing to invest for sales growth from the fiscal year ending May 31, 2025 through the fiscal year ending May 31, 2027. Based on these circumstances, we have determined that we are now in a financial condition to return profits to shareholders. Specifically, we will repurchase our own shares as part of our shareholder returns, taking into consideration stock price trends and the share dilution ratio resulting from the issuance of stock options.
