Chugokukogyo Co.,Ltd. announces an Equity Buyback for 118,000 shares, representing 3.46% for ¥53.57 million.
December 24, 2019 at 07:30 am
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Chugokukogyo Co.,Ltd. (TSE:5974) announces a share repurchase program. Under the program, the company will repurchase 118,000 shares, representing 3.46% of the outstanding shares, at ¥454 per share for ¥53.57 million. The purpose of the program is to mitigate the short-term impact on the supply and demand of the company's shares, and to enhance capital efficiency. As of September 30, 2019, the company had 3,415,243 shares outstanding and 4,757 shares in treasury.
CHUGOKUKOGYO CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of high-pressure gas containers, liquefied petroleum (LP) gas storage tanks and equipment, steel structure equipment products and facility equipment products. The Company operates through four business segments. The High-Pressure Equipment segment manufactures and sells high-pressure gas containers, LP gas equipment, LP gas storage tanks and other high-pressure gas storage tanks, as well as designs and constructs high-pressure gas-related equipment. The Steel Structure Equipment segment manufactures and sells inner covers and other various steel structure products for steel manufacturers. The Facility Equipment segment manufactures and sells feed tanks and containers, wastewater treatment equipment, livestock machinery, chemical tanks, deodorizers and various other reinforced plastic (FRP) products. The Transportation segment includes general area freight forwarding, moving and warehousing.