Dainichi Co., Ltd. announces an Equity Buyback for 1,500,000 shares, representing 8.48% for ¥1,120.5 million.
November 12, 2018 at 02:30 am EST
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Dainichi Co., Ltd. (TSE:5951) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 8.48% of its share capital, at ¥747 per share for ¥1,120.5 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency. As of October 31, 2018, the company had 17,683,359 shares outstanding (excluding treasury shares) and 1,375,228 shares in treasury.
Dainichi Co., Ltd. is a Japan-based company principally engaged in the manufacture and sale of oil heating equipment, environmental equipment and coffee makers. The Company's products include kerosene heaters, such as oil fan heaters for household use and fuel stoves for business use; environmental equipment, such as humidifiers; coffee makers, coffee beans roasting equipment, smoke making machines, photosynthesis promotion machines and horticulture heaters, among others.
DAINICHI CO., LTD. 
