Nihon Plast Co., Ltd.'s Equity Buyback in the amount of ¥2365 mm has expired
August 06, 2013 at 05:00 am
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The Board of Directors of Nihon Plast Co., Ltd. (TSE:7291) authorized a share repurchase program on August 5, 2013. Under the program, the company will repurchase up to 4,300,000 shares, representing 26.18% of its share capital, at a price of ¥550 per share, for a total cost of ¥2.37 billion. Out of the total shares to be repurchased by the company, 4,000,000 shares, representing 24.35% will be repurchased from Honda Motor Co., Ltd. The repurchases will be made from the Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the plan is to enable the implementation of a flexible capital policy corresponding to changes in the business environment. The repurchases will be made on August 6, 2013. As of July 31, 2013, the company has 16,427,602 shares outstanding and 2,982,398 shares in treasury.
Nihon Plast Co., Ltd.'s share repurchase program expired on August 6, 2013. Under the program, the company has repurchased 4,000,000 shares, representing 24.35% for ¥2.2 billion.
NIHON PLAST CO., LTD. is a Japan-based company primarily engaged in the manufacture and sale of automobile components. The Company operates through four regional segments including Japan, North America, China and Southeast Asia. The safety parts business is engaged in the manufacture and sale of steering wheels and airbag modules. The resin parts business is engaged in the manufactures and sale of interior resin products such as air conditioning parts and consoles, and exterior resin products such as cover cowl tops and protector inner fenders. The Company is also engaged in the manufacture and sale of bicycle airbags and game console handles.
NIHON PLAST CO., LTD. 
