The Kaneshita Construction Co.,Ltd. announces an Equity Buyback for 200,000 shares, representing 1.43% for ¥140 million.
February 09, 2017
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The Kaneshita Construction Co.,Ltd. (TSE:1897) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 1.43% of the outstanding shares for ¥140 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. The program will run until March 31, 2017. As of January 31, 2017, the company had 13,937,600 shares outstanding and 5,095,700 shares in treasury.
Kaneshita Construction Co Ltd is a Japan-based company mainly engaged in the construction business, as well as other businesses related to the construction business and the food and beverage business. The Company operates through two business segments. The Construction Business segment is engaged in the civil engineering, architectural and other general construction work related construction business. The Manufacture and Sale Business segment is engaged in the manufactures and sale of asphalt products, the intermediate process of the industrial wastes, the sale of other construction materials, and the operation of conveyor belt sushi restaurants. The Company is also engaged in the manufacture and sale of ready-mix concrete, and the maintenance and management of public housing, as well as construction consulting business, construction material sales business, and solar power generation business.