Kurimoto Ltd. announces an Equity Buyback for 4,500,000 shares, representing 3.48% for ¥700 million.
May 12, 2016 at 02:24 am
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Kurimoto Ltd. (TSE:5602) announces a share repurchase program. Under the program, the company will repurchase up to 4,500,000 shares, representing 3.48% of its share capital excluding treasury shares, for a total of ¥700 million. The purpose of the repurchase program is to enable the implementation of a flexible capital policy corresponding to changes in the business environment. The repurchase program will be valid until July 29, 2016. As of April 30, 2016, the company had 129,221,527 shares outstanding excluding treasury shares and had 4,763,381 shares in treasury.
Kurimoto, Ltd. is a Japan-based company mainly engaged in the manufacture and sale of products for pipe system business, mechanical system business and industrial construction materials business. The Company operates through three business segments. The Pipe System segment is involved in the production of ductile iron pipes and accessories, regulating valves, as well as the incidental work. The Machine System segment is involved in the production of various powder equipment, presses and other industrial machines, special cast iron and cast steel, as well as the incidental construction and plant engineering business. The Industrial Construction Materials segment is involved in the production of various types of ducts, polycon fiber reinforced plastic (FRP) pipes, various synthetic resin molded products, as well as the incidental construction business.
KURIMOTO,LTD. 
