Bando Chemical Industries, Ltd. announces an Equity Buyback for 800,000 shares, representing 1.82% for ¥1,000 million.
November 09, 2023 at 12:00 am EST
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Bando Chemical Industries, Ltd. (TSE:5195) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares, representing 1.82% of its total shares outstanding excluding treasury shares, for a total of ¥1,000 million. The purpose of the program is to implement flexible capital policies in response to changes in the business environment and shareholder returns.
The repurchase program is valid till March 31, 2024. As of September 30, 2023, the company had 43,838,481 shares outstanding excluding treasury shares and had 375,055 shares in treasury.
Bando Chemical Industries, Ltd. is a company mainly engaged in the manufacture and sale of automotive parts, industrial materials and high performance elastomer products. The Company operates through three segments. Its Automotive Parts segment involves in the manufacture and sale of transmission belt products for automobiles and motorcycles. Industrial Materials segment is engaged in the manufacture and sale of general industrial transmission belt products, other transmission products, carrying belt, transportation system products, and razor rolls. Its High Performance Elastomer Products segment is involved in the manufacture and sale of cleaning blade, high function roller and precision belt, among others. In addition, it is also engaged in the robot related business, import and export business, real estate business, insurance agency business and photovoltaic power generation business, among others.
BANDO CHEMICAL INDUSTRIES, LTD. 
