Sumitomo Osaka Cement Co., Ltd. announces an Equity Buyback for 3,500,000 shares, representing 9.41% for ?10,000 million.
November 25, 2021 at 06:00 am
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Sumitomo Osaka Cement Co., Ltd. (TSE:5232) announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares, representing 9.41% of its issued share capital (excluding treasury stock), for a total purchase price of ?10,000 million. The purpose of the program is to return profits to shareholders by improving capital efficiency. The program will continue through June 30, 2022. As of September 30, 2021, the company had 37,200,767 issued shares (excluding treasury stock) and 42,450 treasury shares.
Sumitomo Osaka Cement Co., Ltd. is primarily engaged in the cement business. The Company operates in seven segments. Cement segment manufactures and sells cement and ready-mixed concrete products, cements solidification materials, and provides marine and land transportation services, as well as quality testing and factory maintenance services. Mineral segment provides limestone products. Construction Material segment provides repair materials for concrete buildings. Photoelectron segment provides light related parts. New Material segment manufactures and distributes ceramic products, functional films and functional paints. Battery Material segment provides secondary battery positive-electrode materials. The Others segment is engaged in the leasing of buildings, provision of information processing services, as well as the undertaken of electrical equipment works.