The Kaneshita Construction Co.,Ltd. announces an Equity Buyback for 600,000 shares, representing 21.93% for ¥3,054 million.
February 13, 2020 at 07:30 am
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The Kaneshita Construction Co.,Ltd. (TSE:1897) announces a share repurchase program. Under the program, the company will repurchase 600,000 shares, representing 21.93% of the outstanding shares, at ¥5,090 per share for ¥3,054 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. As of January 31, 2020, the company had 2,735,849 shares outstanding and 1,070,811 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.