Mabuchi Motor Co., Ltd. announces an Equity Buyback for 1,200,000 shares, representing 1.86% for ¥3,000 million.
August 10, 2023 at 04:30 am
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Mabuchi Motor Co., Ltd. (TSE:6592) announces a share repurchase program. Under the program, the company will repurchase 1,200,000 shares, representing 1.86% of its share capital (excluding treasury shares), for ¥3,000 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, and improve shareholder returns and capital efficiency.
The shares repurchased will be cancelled. The program will run until December 22, 2023. As of June 30, 2023, the company had 64,674,427 shares outstanding (excluding treasury shares) and 2,401,935 shares in treasury.
MABUCHI MOTOR CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of small motors. Its automotive electrical equipment are used in car mirrors, door locks, dampers for air conditioning, power windows, power sheets, collimating equipment for headlights, lumbar supports and others. Its consumer goods and business machine are used in shavers, hair clippers, hair removal machines, toothbrushes, hair dryers, impact wrenches, circular saws, tools, inkjet printers, copiers, multifunction peripheral (MFP), laser printers and others.