Nippon Felt Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 1.54% for ¥200 million.
May 12, 2016
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Nippon Felt Co., Ltd. (TSE:3512) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 1.54% of its outstanding shares excluding treasury shares for ¥200 million. The purpose of the program is to improve the capital efficiency and shareholders’ returns. The repurchases will be in accordance with Article 459 Paragraph 1 of the Companies Act. The program is valid until August 31, 2016. As of May 13, 2016, the company had 19,542,079 outstanding shares excluding treasury and had 300,010 shares in treasury.
NIPPON FELT CO.,LTD. is a Japan-based company mainly engaged in the manufacturing and sales of paper, pulp, slates, and other industrial felts. The Company is mainly engaged in producing, finishing, and selling felt for making paper, pulp, slate, and other industrial applications. Besides the Company also engaged in producing, and selling various types of textile products, industrial detergents and other industrial chemicals and industrial machinery and anti-pollution devices as well as leasing and managing real estate.