Toa Road Corporation announces an Equity Buyback for 200,000 shares, for ¥700 million.
May 14, 2020 at 03:00 am
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Toa Road Corporation (TSE:1882) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 3.95% of its share capital, for ¥700 million. The company will repurchase its shares in order to further enhance return of profits to all shareholders by improving capital efficiency and implementing a flexible capital policy. The program will run until December 31, 2020. As of April 30, 2020, the company had 5,067,667 shares outstanding (excluding treasury shares) and 152,356 shares in treasury.
TOA ROAD CORPORATION is mainly engaged in the construction business. The Company operates in two business segments. The Construction segment is engaged in the operation of construction works, including paving works, civil engineering works, landscaping and greening works, sports facility works, foundation improvement works, river improvement works and special dredging works. The segment is also involved in the demolition of buildings and the provision of consulting services. The Manufacture and Sale and Environment segment manufactures and sells emulsified asphalt, modified asphalt, asphalt mixtures, recycled aggregates, crushed stones for paving and ready-mixed concrete. The segment is also involved in the manufacture and sale of construction machinery, the sale of pavement works-related products, as well as the environmental businesses, such as the intermediate treatment of construction wastes and the investigation and purification of contaminated soil.