Nippon Felt Co., Ltd. announces an Equity Buyback for 300,000 shares, representing 1.56% for ¥200 million.
May 27, 2019 at 07:00 am
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Nippon Felt Co., Ltd. (TSE:3512) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.56% of the outstanding shares for ¥200 million. The purpose of the program is to improve capital efficiency and shareholder returns. The program will run until February 28, 2020. As of May 27, 2019, the company had 19,277,659 shares outstanding and 564,430 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.