Kaneko Seeds Co., Ltd. announces an Equity Buyback for 150,000 shares, for ¥250 million.
January 19, 2024 at 01:50 am EST
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Kaneko Seeds Co., Ltd. (TSE:1376) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 1.30% of its total shares outstanding (excluding treasury shares), for a total of ¥250 million. The purpose of repurchase program is to implement a flexible capital policy and enhance shareholder returns.
The repurchase program is valid till May 24, 2024. As of December 31, 2023, the company had 11,516,336 shares outstanding (excluding treasury shares) and had 256,290 shares in treasury.
KANEKO SEEDS CO., LTD. is a Japan-based company mainly engaged in the sale of seedlings, gardening products, agrochemicals and agricultural facilities, as well as the design and construction of hydroponic culture plants, greenhouses and gardens. The Company operates in four business segments. The Seedling segment is engaged in the contract production, purchase and sale of vegetable seeds, pasture seeds, virus-free seedlings and seeds, and the design and construction of landscaping work. The Flower Growing segment is engaged in the production and sale of flower seeds and seedlings, as well as the purchase and sale of gardening products. The Agricultural Material segment is involved in the purchase and sale of agrochemicals and others. The Facility segment is engaged in the provision of agricultural facilities, as well as the development and sale of hydroponic culture plants and greenhouses.