Nippon Aqua Co., Ltd. announces an Equity Buyback for 1,200,000 shares, representing 3.71% for ¥1,200 million.
December 19, 2022 at 02:30 am EST
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Nippon Aqua Co., Ltd. (TSE:1429) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 3.71% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,200 million. The shares will be repurchased at a price of ¥889 per share.
The purpose of the program is to improve the ratio of tradable shares and the market capitalization of tradable shares and maximize corporate value by achieving a good balance between returning profits and raising funds necessary for growth investment from a medium to long term perspective. As of June 30, 2022, the company had 32,312,829 issued shares (excluding treasury stock) and 2,447,171 treasury shares.
Nippon Aqua Co., Ltd. is principally engaged in the installation and sales of thermal insulation materials for buildings. In single-family housing field, the Company provides thermal insulation material installation service for national and regional house builders, and building contractors. The Company provides thermal insulation material installation service for various concrete buildings, such as condominiums, hospitals, schools, offices, cold storage warehouses and others. The Company is also engaged in the sale of various products, including construction machinery and related parts, raw materials, as well as heat shielding materials, moisture permeable and waterproof materials.
NIPPON AQUA CO., LTD. 
