Foster Electric Company, Limited announces an Equity Buyback for 500,000 shares, representing 2.19% for ¥637.5 million.
February 25, 2021 at 02:00 am EST
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Foster Electric Company, Limited (TSE:6794) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 2.19% of the outstanding shares for ¥637.5 million. The shares will be repurchased at a price of ¥1275 per share. The purpose of the program is to improve shareholder returns and capital efficiency. The program will run until February 26, 2021. As of December 31, 2020, the company had 22,803,376 shares outstanding and 3,196,624 shares in treasury.
Foster Electric Company, Limited is a Japan-based company principally engaged in the manufacture and sale of speakers, audio equipment and electronic equipment. The Company operates in three business segments. Speaker segment is involved in the manufacture and sale of audios, televisions as well as in-vehicle speakers and speaker systems. Mobile Audio segment is involved in the manufacture and sale of headphones, headsets, small speakers and professional microphones. Others segment is involved in the manufacture and sale of buzzer and sounder products for alarm sounds, FOSTEX brand products, as well as the provision of logistics services.
FOSTER ELECTRIC COMPANY, LIMITED 
