Okamoto Industries, Inc. announces an Equity Buyback for 1,000,000 shares, representing 1% for ¥400 million.
January 06, 2014 at 11:00 am
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Okamoto Industries, Inc. (TSE:5122) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing 1% of outstanding shares (excluding treasury shares) for ¥400 million. The repurchases will be made in order to enable a flexible capital policy towards solving the various administrative problems. The repurchases will be made in accordance with the provisions of the Companies Act Article 156 as applied in lieu of Article 165, Section 3 of the same law.
The company will make repurchases till May 30, 2014.
OKAMOTO INDUSTRIES,INC. is a Japan-based company mainly engaged in the manufacture and sale of industrial products and household goods. The Company operates through two business segments. The Industrial Products segment sells products mainly made of plastic resins to processing companies. The Daily Necessities segment mainly sells daily necessities and consumable goods to consumers. The Company is also involved in the group's logistics business and solar power generation business. The Companyâs major products include plastic films, construction and industrial materials, medical and daily necessities, shoes, clothing and sports equipment and others.
OKAMOTO INDUSTRIES, INC. 
