Nippon Shindo Co., Ltd. announces an Equity Buyback for 150,000 shares, representing 6.38% for ¥250 million.
May 21, 2021 at 08:50 am
Share
Nippon Shindo Co., Ltd. (TSE:5753) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 6.38% of its issued share capital (excluding treasury stock), for a total purchase price of ¥250 million. The purpose of the program is to acquire treasury stock for the purpose of returning profits to shareholders, improving capital efficiency, and implementing agile capital policies according to the business environment. The program will be valid till May 23, 2022. As of April 30, 2021, the company had 2,350,038 issued shares (excluding treasury stock) and 19,962 treasury shares.
NIPPON SHINDO CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of brass products. The Company is mainly engaged in the provison of copper and brass bars and wires, forged products and others. As a manufacturer of brass rods and wires, the Company is engaged in the manufacture of alloys such as HeroBrons, and its mainstay bars and wires, as well as the provision of eco-friendly products such as dezincification resistant series and lead-free.