Nippon Pillar Packing Co., Ltd. announces an Equity Buyback for 350,000 shares, for ¥374.15 million.
December 01, 2015
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Nippon Pillar Packing Co., Ltd. (TSE:6490) announces a share repurchase program. Under the program, the company will repurchase up to 350,000 shares at a price of ¥1,069 per share for ¥374.15 million. The shares will be repurchased through the off-auction own share repurchase method (ToSTNeT-3).
The purpose of the program is to implement a flexible capital policy in response to the changes in the business environment.
PILLAR Corp, formerly Nippon Pillar Packing Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of fluid control related equipment products, mainly PILAFLON products (fluororesin products), mechanical seal products, and gland packing and gasket products. The products are used in industrial fields such as semiconductors and liquid crystal, as well as electricity, petroleum, automobiles, chemicals, ships, civil engineering and construction, food, and pharmaceuticals. The Company operates through two business segments. The Electronic Equipment Related Business segment mainly produces and sells resin-related products such as PILAFLON products. The Industrial Equipment Related Business segment produces and sells mechanical seal products, gland packing and gasket products. The Company also operates office building rental businesses, insurance agency businesses, and electricity sales businesses.