Tachibana Eletech Co., Ltd. announces an Equity Buyback for 1,000,000 shares, representing 4% for ¥3,000 million.
June 05, 2023 at 09:00 am
Share
Tachibana Eletech Co., Ltd. (TSE:8159) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 4% of its total shares outstanding (excluding treasury shares), for a total of ¥3,000 million. The purpose of repurchase program is to improve capital efficiency and strengthen shareholder returns.
The repurchase program is valid till March 31, 2024. As of June 5, 2023, the company has 24,978,321 shares outstanding (excluding treasury shares) and has 46,921 shares in treasury.
TACHIBANA ELETECH CO., LTD. is a Japan-based company mainly engaged in the sale of the factory automation (FA) equipment, industrial machinery, industrial devices, semiconductor and electronic devices and equipment, as well as the provision of maintenance and service for related business. The Company operates through three business segments. FA System segment offers programmable controllers, inverters, and electrical discharge machines. Semiconductor Device segment provides semiconductors and electric devices. Information Communication segment provides radiofrequency identification (RFID) system, surveillance cameras and thin clients. Facility segment provides air-conditioning equipment, solar power generation systems, all-electric appliances, room air conditioners, elevators, among others. The Company is also involved in the support for customers with contract manufacturing of electronic equipment (EMS) and contract manufacturing of metal processing (MMS).
TACHIBANA ELETECH CO., LTD. 
