Aisin Corporation announces an Equity Buyback for 51,000,000 shares, for ¥100,000 million.
June 27, 2024 at 03:00 am EDT
Share
Aisin Corporation (TSE:7259) announces a share repurchase program. Under the program, the company will repurchase up to 17,000,000 shares, representing 6.31% of its issued share capital (excluding treasury stock), for a total purchase price of ¥100,000 million. The purpose of the program is strengthening shareholder returns and achieving a balance between financial safety and capital efficiency. The program will be valid till March 31, 2025. As of May 31, 2024, the company had 269,533,825 issued shares (excluding treasury stock) and 25,140,809 treasury shares.
On August 6, 2024, the company announces a stock split under which the company will acquire 3 shares for every 1 common share of the company. The stock split is effective from October 1, 2024.
Aisin Corp is a Japan-based company mainly engaged in the manufacture and sale of automotive parts. It manufactures and sells automotive parts through five segments, including Japan, North America, Europe, China, and Association of South-East Asian Nations (ASEAN) & India. The Japan segment also manufactures and sells energy solution-related equipment. Automotive parts include powertrain-related parts such as automatic transmissions (AT), and manual transmissions (MT), driving safety-related parts such as brake master cylinders, and disc brakes, body-related parts such as power sliding door systems, power back door systems, and sunroofs, and other connected and sharing solutions (CSS)-related parts such as car navigation systems. The energy solution-related products include gas heat pump air conditioners (GHP), cogeneration systems, shower toilets, home renovations, construction and civil engineering, and petroleum sales. The Company is also engaged in the automotive parts business.
AISIN CORPORATION 
