Mochida Pharmaceutical Co., Ltd. announces an Equity Buyback for 830,000 shares, representing 2.17% for ?2,500 million.
November 05, 2021 at 05:00 am
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Mochida Pharmaceutical Co., Ltd. (TSE:4534) announces a share repurchase program. Under the program, the company will repurchase up to 830,000 shares, representing 2.17% of the outstanding common stock for ?2,500 million. The purpose of the program is to enhance shareholder returns and capital efficiency and to implement agile capital policy in response to changes in the business environment. The program will run until March 24, 2022. As of October 31, 2021, the company had 38,268,587 shares in issue (excluding treasury shares) and 2,361,413 shares in treasury.
Mochida Pharmaceutical Co Ltd is a Japan-based company principally engaged in the production and sale of drugs. The Pharmaceutical-related segment is engaged in the manufacture, purchase and sale of pharmaceutical products. The Company also conducts brokerage and management of real estate properties, the maintenance and management of buildings, the agency of personal affairs, accounting and purchasing businesses. The Healthcare segment is involved in the manufacture, purchase and sale of quasi drugs and cosmetic products.