Chubu Suisan Co., Ltd.'s Equity Buyback in the amount of ¥23.94 mm has expired
March 07, 2013 at 11:00 pm EST
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The Board of Directors of Chubu Suisan Co., Ltd. (NSE:8145) authorized a share repurchase program on March 7, 2013. Under the program, the company will repurchase up to 70,000 shares, representing 0.38% of its outstanding shares for ¥23.94 million. The repurchases will be made at a price of ¥342 per share, being the closing price of the shares as on March 7, 2013. The repurchases will be made on the Nagoya Stock Exchange off-floor treasury share trading (N-NET3). The purpose of the program is to enable the implementation of a flexible capital policy which supports the changes in the business environment. The shares will be repurchased pursuant to articles of incorporation from the regulations of Article 165 Clause 2 of the Company Law. The repurchases will be made on March 8, 2013. As of March 7, 2013, the company has 18,489,231 outstanding shares excluding treasury and 1,479,769 shares in treasury.
Chubu Suisan Co., Ltd.'s share repurchase program expired on March 8, 2013. Under the program, the company has repurchased 65,000 shares, representing 0.35% for ¥22.23 million.
CHUBU SUISAN CO., LTD. is a Japan-based company mainly engaged in the wholesale of marine products. The Company operates in five business segments. The Marine Products Wholesale segment is engaged in the wholesale of marine products to the Nagoya central wholesale market. The Fodder Manufacturing and Selling segment is engaged in the manufacture and sale of fish flour, compounded feeds and feeds for fishery culture. The Refrigerated Warehouses segment provides storage services for fresh, frozen and processed marine products which are owned by marine products companies and middle traders. The Real Estate Rental segment leases condominiums.