Toyo Seikan Group Holdings, Ltd. announces an Equity Buyback for 13,000,000 shares, representing 7.14% for ¥20,000 million.
May 12, 2023 at 07:00 am
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Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces a share repurchase program. Under the program, the company will repurchase up to 13,000,000 shares, representing 7.14% of its issued share capital for ¥20,000 million. The purpose of the program is maximize corporate value by improving asset and financial soundness and improving capital efficiency for growth investment.
The program is valid till March 29, 2024. As of March 31, 2023, the company had 182,085,786 shares issued (excluding treasury stock) and 20,776,376 shares in treasury.
Toyo Seikan Group Holdings, Ltd. is a Japan-based packaging container manufacturer. The Company operates in four business segments. The Packing Container Related segment is engaged in the manufacture and sale of cans for canning and other metal products, plastic, glass and paper products, as well as the contract manufacture and sale of aerosol products and general goods filing. The Steel Plate Related segment is engaged in the manufacture and sale of steel and processed steel plates. The Functional Material segment offers disk substrates, optical function films, glazes and gel coat. The Real Estate segment is engaged in the leasing of buildings and commercial facilities. The Others segment is engaged in the manufacture and sale of hard alloy, machineries and tools, agricultural materials, the sale of petroleum products, as well as the insurance agency business.
TOYO SEIKAN GROUP HOLDINGS, LTD. 
