Daiwa Heavy Industry Co., Ltd. announces an Equity Buyback for 50,000 shares, representing 3.69% for ¥50 million.
August 24, 2020 at 03:00 am
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Daiwa Heavy Industry Co., Ltd. (TSE:5610) announces an share repurchase program. Under the program the company will repurchase 50,000 shares, representing 3.69% of the outstanding shares for ¥50 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to enhance capital efficiency. The program will run until December 31, 2020. As of July 31, 2020, the company had 1,354,526 shares outstanding and 3,474 shares in treasury.
Daiwa Heavy Industry Co., Ltd. is a Japan-based company engaged in the provision of industrial machinery and housing equipment. The Company operates in two business segments. The Industrial Machinery-related Equipment segment is engaged in manufacturing, processing and sales of casting parts for machine tools and peripheral equipment, as well as casting parts for industrial machinery and diesel engines, among others. The Housing-related Equipment segment is engaged in the manufacturing and sales of casting enameled baths, manhole iron covers, landscaping products, other daily castings, wooden fixtures and others.
DAIWA HEAVY INDUSTRY CO., LTD. 
