Fukoku Co.,Ltd. announces an Equity Buyback for 600,000 shares, representing 3.62% for ?593.4 million.
October 29, 2021 at 03:00 am EDT
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Fukoku Co.,Ltd. (TSE:5185) announces a share repurchase program. Under the program, the company will repurchase 600,000 shares, representing 3.62% of the outstanding shares, at ?989 per share for ?593.4 million. The purpose of the program is to enhance capital efficiency and to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until November 1, 2021. As of September 30, 2021, the company had 16,595,698 shares outstanding and 1,013,432 shares in treasury.
Fukoku Co., Ltd. operates in five business segments, including Functional Products, Anti-vibration, Medal Processing, Hoses and New business. The Functional Products segment manufactures and sells seal components and wiper blade rubber products. The Anti-vibration segment manufactures and sells dampers and mounts. The Medal Processing segment is engaged in the manufacture and sale of medal components for truck and construction machinery use. The Hoses segment is involved in the manufacture and sale of rubber products, such as hoses. The New segment manufactures and sells office automation, medical care, motors and urethane products.
FUKOKU CO.,LTD. 