Chugoku Marine Paints, Ltd. announces an Equity Buyback for 6,000,000 shares, representing 10.31% for ¥5,200 million.
July 31, 2020 at 12:30 am EDT
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Chugoku Marine Paints, Ltd. (TSE:4617) announces a share repurchase program. Under the program, the company will repurchase 6,000,000 shares, representing 10.31% of the outstanding shares for ¥5,200 million. The purpose of the program is to return profits to shareholders, to improve capital efficiency and to execute agile capital policies in accordance with the business environment. The program will run until July 30, 2021. As of June 30, 2020, the company had 58,217,077 issued shares (excluding treasury shares) and 10,851,745 shares in treasury.
CHUGOKU MARINE PAINTS, LTD. is a Japan-based company engaged in the manufacture and sale of paint, as well as the provision of contract painting services. The Company has five geographical segments, including Japan segment, China segment, Korea segment, Southeast Asia segment and Europe and America segment. Japan segment is engaged in the manufacture and sale of paint, as well as the management of real estate business. The other four reporting segments are engaged in the manufacture and sale of paint.
CHUGOKU MARINE PAINTS, LTD. 
