Okura Industrial Co., Ltd. announces an Equity Buyback for 1,200,000 shares, representing 9.92% for ¥2,500 million.
June 21, 2024 at 02:15 am
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Okura Industrial Co., Ltd. (TSE:4221) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 9.92% of its issued share capital, for ¥2,500 million. The purpose of the program is increasing the level of shareholder returns and improving capital efficiency.
The program will be valid till June 20, 2025. As of May 31, 2024, the company has 12,092,440 issued shares (excluding treasury stock) and 322,430 treasury shares.
Okura Industrial Co., Ltd. is a Japan-based company mainly engaged in the processing, manufacture and sale of polyethylene, polypropylene and optical functional film products, processed plywood, particle boards and processed boards, among others. The Company operates through three business segments. The Synthetic Resin segment is engaged in the processing and sale of synthetic resin products such as polyethylene films and polypropylene films. The New Materials segment provides optical films, urethane films, seamless belts, adhesives composite materials. The Building Materials segment provides decorative panels, particleboards and other housing materials. The Company is also engaged in the hotel business, wood processing business, residential land creation and building construction business, information processing system development business, property insurance agency business, cable TV broadcasting business and real estate rental business.
OKURA INDUSTRIAL CO., LTD. 
