Fujita Engineering Co., Ltd. announces an Equity Buyback for 1,700,000 shares, representing 15.75% for ¥807.5 million.
February 12, 2016 at 02:47 am
Share
Fujita Engineering Co., Ltd. (JASDAQ:1770) announces a share repurchase program. Under the program, the company will repurchase up to 1,700,000 shares, representing 15.75% of its issued share capital for ¥807.5 million. The shares will be purchased at a price of ¥475 per share. The shares will be purchased through Off-Auction Own Share Repurchase Trading (ToSTNeT-3). The purpose of the repurchase program is to improve capital efficiency and implement a flexible capital policy corresponding to changes in the business environment. As of September 30, 2015, the company had 10,795,476 shares outstanding excluding treasury shares and had 904,524 shares in treasury.
Under the program, Nitto Kosan K.K. participated in the transaction and sold 17,000 shares.
FUJITA ENGINEERING CO.,LTD. is a Japan-based company mainly engaged in the construction of comprehensive facilities, including the creation and maintenance of area space for construction equipment, industrial equipment and environmental equipment. The company operates through four business segments. The Construction segment includes building equipment, industrial equipment and environmental equipment. The Equipment Sales and Information Systems segment sells equipment, installs and sells information and communication equipment and develops and sells software. The Equipment Maintenance segment includes repair, maintenance, installation of air conditioning equipment and installation of housing equipment. The Electronic Component Manufacturing segment is involved in the inspection, classification, assembly and equipment manufacturing of electronic components. The Company is also involved in the water supply facility management contract business.
FUJITA ENGINEERING CO., LTD. 