Nippon Shindo Co., Ltd. announces an Equity Buyback for 15,000 shares, representing 0.64% for ¥30 million.
August 06, 2020 at 01:40 am EDT
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Nippon Shindo Co., Ltd. (TSE:5753) announces a share repurchase program. Under the program, the company will repurchase 15,000 shares, representing 0.64% of its share capital, for ¥30 million. The company will repurchase its shares in order to return profits to shareholders, improve capital efficiency, and implement a flexible capital policy in response to the business environment. The program will run until November 30, 2020. As of July 31, 2020, the company had 2,359,853 shares outstanding (excluding treasury shares) and 10,147 shares in treasury.
NIPPON SHINDO CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of brass products. The Company is mainly engaged in the provison of copper and brass bars and wires, forged products and others. As a manufacturer of brass rods and wires, the Company is engaged in the manufacture of alloys such as HeroBrons, and its mainstay bars and wires, as well as the provision of eco-friendly products such as dezincification resistant series and lead-free.