Kawai Musical Instruments Manufacturing Co., Ltd.'s Equity Buyback in the amount of ¥300 mm has expired
March 31, 2013 at 12:00 am
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The Board of Directors of Kawai Musical Instruments Manufacturing Co., Ltd. (TSE:7952) authorized a share repurchase program on December 19, 2012. Under the program, the company will repurchase up to 2,000,000 common shares, representing 2.34% of its issued share capital (excluding treasury shares), for a total cost of ¥300 million. The company will make market purchase from the Tokyo Stock Exchange. The purpose of the repurchase program is to implement a flexible capital policy and improve shareholder returns. The plan will commence on January 7, 2013 and end on March 31, 2013. As of November 30, 2012, the company has 85,520,219 shares outstanding (treasury shares excluded) and 90,389 shares held in treasury. As of February 28, 2013, the company has repurchased 857,000 shares, representing 1% of its shares, for ¥144.31 million.
Kawai Musical Instruments Manufacturing Co., Ltd.'s share repurchase program expired on March 31, 2013.
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of musical instruments, material processing and information-related business. It has two business segments. Musical Instrument Education segment is engaged in the sale of pianos, electronic musical instruments, musical instrument toys and wind, strings and percussion instruments, the operation of music and physical education classes, the provision of musical instrument tuning and repair service, and the publication and sale of music scores and books. It is also engaged in the manufacture and sale of software used in music education. Material Processing segment is engaged in metal materials processing for electronic and electrical parts, automotive parts, as well as the manufacture and sale of pig iron castings and materials of soundproof rooms and acoustic components. It is also engaged in information-related business, finance-related business, insurance agency business.
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO., LTD. 
