MEISEI INDUSTRIAL Co.,Ltd. announces an Equity Buyback for 1,500,000 shares, representing 2.92% for ?1,200 million.
November 18, 2021 at 01:30 am
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MEISEI INDUSTRIAL Co.,Ltd. (TSE:1976) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 2.92% of the outstanding shares for ?800 million. The purpose of the program is to improve capital efficiency, implement agile capital policies in response to changes in the business environment, and enhance the return of profits to shareholders. The program will run until June 30, 2022. As of September 30, 2021, the company had 51,417,506 shares outstanding and 7,969,212 shares in treasury.
MEISEI INDUSTRIAL Co.,Ltd. is a Japan-based company mainly engaged in the construction work, mainly heat insulation work, and boiler business for manufacturing and installing boilers. The Company is engaged in insulation work, construction material work, freezing, refrigeration and low temperature work in the manufacturing and construction of materials in Japan and overseas. The Company is also involved in the manufacture, construction, sale and installation of boilers and industrial machinery in Japan and overseas.