The Kaneshita Construction Co.,Ltd. announces an Equity Buyback for 200,000 shares, representing 8.8% for ¥881 million.
May 11, 2020 at 08:30 am
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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 8.8% of its share capital, at ¥4,405 per share for ¥881 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment. As of April 30, 2020, the company had 2,272,660 shares outstanding (excluding treasury shares) and 1,534,000 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.