DaikyoNishikawa Corporation announces an Equity Buyback for 3,100,000 shares, representing 4.2% for ¥4,992 million.
February 06, 2017
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DaikyoNishikawa Corporation (TSE:4246) announces a share repurchase program. Under the program, the company will repurchase 3,100,000 shares, representing 4.2% of the outstanding shares, at ¥1,451 per share for ¥4,992 million. Shares will be repurchased through the Tokyo Stock Exchange Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the program is to enhance capital efficiency and to enable the implementation of a flexible capital policy in response to changes in the business environment. As of January 31, 2017, the company had 73,895,879 shares outstanding and 521 shares in treasury.
DaikyoNishikawa Corp is engaged in the manufacture and sale of automotive resin parts. The Company operates in four geographical segments: Japan, China & Korea, ASEAN, Central America & North America. The Company purchases raw materials and manufacturers automobile equipment such as instrument panels and bumpers, and housing equipment such as bus unit members. The Japan segment has two divisions. The automobile parts manufacture division is involved in the provision of automobile resin parts, the development of production equipment and jigs, and the design and manufacture of molding dies and precision jigs. The others division is involved in the provision of housing equipment, the life insurance and non-life insurance agency business. Other segments are also involved in the design and technical services for automobile parts and staffing business, in addition to the provision of resin parts for automobiles.
DAIKYONISHIKAWA CORPORATION 
