91探花

The Board of Directors of 91探花 has today adopted a resolution for a repurchase of the company's shares pursuant to Article 459, Paragraph 1, of the Companies Act of Japan as well as Article 37 of the company's Articles of Incorporation, and for the cancellation of shares of treasury stock pursuant to Article 178 of the Companies Act, to be implemented as follows.

1.Reason for repurchasing shares

To enhance shareholder returns and improve capital efficiency

2.Details of the repurchase

a)Type of shares to be repurchased

Common stock of 91探花 Corp.

b)Number of shares to be repurchased

12 million shares (maximum)
(0.86% of the number of issued shares excluding treasury stock)

c)Total value of shares to be repurchased

?10.0 billion (maximum)

d)Repurchase period

From May 30, 2019, to September 30, 2019

e)Methods of repurchase

Purchase through the Tokyo Stock Exchange Trading Network System ToSTNeT-3
Purchase on the Tokyo Stock Exchange based on discretionary trading contracts

3.Details of the cancellation

a)Type of shares to be cancelled

Common stock of 91探花 Corp.

b)Number of shares to be canceled

The total number of shares repurchased in accordance with 2. above

c)Scheduled date of cancellation

October 11, 2019

For reference

Holdings of treasury stock as of March 31, 2019

Number of issued shares excluding treasury stock

1,396,567,399 shares

Number of shares of treasury stock

6,048,933 shares