Natori Co. Ltd. closed an Equity Buyback in the amount of ¥742 mm
January 10, 2013 at 11:00 pm
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The Board of Directors of Natori Co. Ltd. (TSE:2922) authorized a share repurchase program on December 7, 2012. Under the program, the company will repurchase up to 900,100 common shares, representing 6.25% of its issued share capital (excluding treasury shares), for a total cost of ¥742 million. The company also announced a tender offer under the plan. The company will repurchase 900,000 shares, representing 6.24% of its issued share capital, at a price of ¥800 per share. One of the company shareholders also wishes to sell 800,000 shares, which represents 5.55% of its issued share capital (excluding treasury shares). The repurchases will be done based on Article 165, Clause 3, of Japan's Corporate Law, as interpreted in lieu of Article 156, Clause 1, of Japan's Corporate Law. The purpose of the repurchase program is to conduct a flexible capital policy in compliance with changes in business environment. If offered numbers of shares don't exceed planned number of share to acquire, the company will acquire all tendered shares. The tender offer was filed on December 10, 2012 and will be settled on February 5, 2013. The tender offer will commence on December 10, 2012 and expire on January 11, 2013. The plan will commence on December 10, 2012 and expire on February 28, 2013. As of December 7, 2012, the company has 14,412,439 shares outstanding (treasury shares excluded) and 619,770 shares held in treasury.
On January 11, 2013, the company's tender offer expired. Under the offer the company repurchased from one of its principle shareholder Naou Estate Co., Ltd. 800,000 shares, representing 5.55% for ¥640 million.
Daiwa Securities Co. Ltd. acted as the broker for Natori Co. Ltd.
Natori Co. Ltd. completed its share repurchase program on January 11, 2013.
NATORI CO., LTD. is engaged in the manufacture and sale of food products. The Company operates in two business segments. The Food Production and Sales business segment is engaged in the manufacture and sale of processed products, processed meat products, processed dairy products, processed agricultural products, confectionery products, chilled products and other products. The Real Estate Rental business segment is engaged in the rental of real estate. Products are divided into three categories: the specialty snacks series, the eatable snacks series and the volume snacks series. Product genres include fisheries, meat, cheese, agricultural products, confectionery, cold snacks and others.
NATORI CO., LTD. 
