MegaChips Corporation announces an Equity Buyback for 1,500,000 shares, representing 7.41% for ?5,000 million.
November 17, 2021 at 01:00 am
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MegaChips Corporation (TSE:6875) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 7.41% of its share capital, for ?5,000 million. The company will repurchase its shares in order to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until April 28, 2022. As of Octboer 31, 2021, the company had 20,241,347 shares outstanding (excluding treasury shares) and 2,797,053 shares in treasury.
MegaChips Corporation is a Japan-based company engaged in the design, development, manufacture and sale of system large-scale integrations (LSIs) based on the basic technologies of image, audio and telecommunication sectors, and electronic components and system machinery equipped with its system LSIs. The Companyâs main products Include LSIs for entertainment devices such as game consoles, image processing LSIs for digital cameras, LSIs for liquid crystal display (LCD) panels, and video surveillance system equipment for security field, among others. As of March 31, 2014, the Company had four subsidiaries.