Sugimoto & Co., Ltd. announces an Equity Buyback for 500,000 shares, representing 4.74% for ¥1,250 million.
October 27, 2020 at 02:00 am
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Sugimoto & Co., Ltd. (TSE:9932) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 4.74% of its share capital, for ¥1,250 million. The company will repurchase its shares in order to expand shareholder returns and improve capital efficiency, as well as implement a flexible capital policy in response to changes in the business environment. The program will run until September 25, 2021. As of September 30, 2020, the company had 10,557,160 shares outstanding (excluding treasury shares) and 842,077 shares in treasury.
SUGIMOTO & CO.,LTD. is a Japan-based company mainly engaged in the sale of machinery and equipment. The Company is mainly engaged in the sale of measuring equipment, mechanical equipment and other factory equipment, tools, factory supplies, pneumatic and hydraulic equipment and consumable products. The Company develops business within the domestic market and to overseas market.