Citizen Watch Co., Ltd. announces an Equity Buyback for 25,000,000 shares, representing 7.99% for ?10,000 million.
November 25, 2021 at 02:00 am EST
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Citizen Watch Co., Ltd. (TSE:7762) announces a share repurchase program. Under the program, the company will repurchase 25,000,000 shares, representing 7.99% of the outstanding shares for ?10,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until June 30, 2022. As of October 31, 2021, the company had 313,011,297 shares outstanding and 1,342,512 shares in treasury.
Citizen Watch Co., Ltd. is one of the world's largest watch manufacturers. Net sales break down by family of products as follows:
- watches and clocks (50.9%);
- industrial machines (21%): digital control lathes, machine tools, industrial robots, etc.;
- electronic devices (20.1%): electroluminescent diode microchips, quartz oscillators, electronic viewfinders, etc.;
- electronic equipment (6%): electronic thermometers, calculators, printers, medical equipment, etc.;
- other (2%): jewels, automotive components, etc.
CITIZEN WATCH CO., LTD. 
