Hagiwara Electric Co., Ltd. announces an Equity Buyback for 180,000 shares, representing 2.17% for ¥360 million.
May 30, 2016 at 04:40 am
Share
Hagiwara Electric Co., Ltd. (TSE:7467) announces a share repurchase program. Under the program, the company will repurchase up to 180,000 shares, representing 2.17% of its total shares outstanding excluding treasury shares, for a total of ¥360 million. The purpose of the repurchase program is to enhance capital efficiency and to implement a flexible capital policy corresponding to changes in the business environment. The share repurchase program is valid until September 30, 2016. As of March 31, 2016, the company had 8,305,479 shares outstanding excluding treasury shares and had 12,521 shares in treasury.
Hagiwara Electric Holdings Co Ltd is a Japan-based company engaged in the business of purchasing and selling semiconductors and electronic components, the development, manufacture, and sale of electronic equipment, and the construction of various systems. The devices segment is engaged in the sale and technical support of semiconductors and electronic components, including large-scale integration (LSI) systems for automobiles, which are increasingly controlled electronically, as well as the contracted development business centered on proof-of-concept (PoC) development support and embedded software for embedded systems. The solutions segment sells information technology (IT) equipment, embedded systems, and measuring equipment; builds IT platform platforms and Internet of Things (IoT) systems; designs, manufactures, and sells various factory automation and special measuring systems that contribute to automation and labor saving; and develops, manufactures and sells industrial computers.