Tomoku Co., Ltd. announces an Equity Buyback for 6,000,000 shares, representing 6.56% for ¥1,740 million.
August 04, 2016
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Tomoku Co., Ltd. (TSE:3946) announces a share repurchase program. Under the program, the company will repurchase up to 6,000,000 shares, representing 6.56% of its outstanding shares at ¥290 per share for ¥1,740 million. The company will repurchase its shares through Off-auction Own Share Repurchase. The purpose of the program is to promote growth strategy to maximize corporate value in anticipation of further growth in response to changes in the business environment. The program will be valid until August 8, 2016. As of June 30, 2016, the company had 91,424,832 shares outstanding and 5,283,010 shares in treasury.
TOMOKU CO., LTD. is a Japan-based company mainly engaged in cardboard, housing, and transportation warehouse businesses. The Company operates through three business segments. The Cardboard segment is engaged in the manufacture and sale of cardboard sheets, cardboard cases and printing paper containers. The main products include carrying cases, gift packages, and micro flute paper containers. The Housing segment is engaged in the design, construction, supervision and sale of detached houses. The Transportation Warehouse segment is engaged in freight transportation business and warehousing business.