Higashimaru Co.,Ltd. announces an Equity Buyback for 200,000 shares, representing 4.25% for ¥228 million.
August 30, 2018 at 08:30 am
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Higashimaru Co.,Ltd. (FKSE:2058) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 4.25% of the outstanding shares, at ¥1,140 per share for ¥228 million. Shares will be repurchased from the company's Representative Director and President, Koichiro Higashi. The purpose of the program is to enhance capital efficiency and improve shareholder returns. As of June 30, 2018, the company had 4,705,111 shares outstanding and 40,889 shares in treasury.
HIGASHIMARU CO., LTD. is principally engaged in the manufacture and sale of formulated feeds for fish breeding. The Company operates in two business segments. The Seafood segment is engaged in the manufacture and sale of formulated feeds for fish culturing, fishery initial feed and combined feed for fish fishes, among others. The Food segment is involved in the manufacture and sale of dry noodles, instant noodles, bowl udon (Japanese wheat noodle) and sauces for noodles, as well as curry, jams and seasonings, among others.
HIGASHIMARU CO.,LTD. 
