Fuso Chemical Co.,Ltd. announces an Equity Buyback for 260,000 shares, representing 0.73% for ¥1,200 million.
August 23, 2021 at 03:00 am EDT
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Fuso Chemical Co.,Ltd. (TSE:4368) announces a share repurchase program. Under the program, the company will repurchase up to 260,000 shares, representing 0.73% of its issued share capital for ¥1,200 million. The shares will be repurchased at a price of ¥4,260 per share. The purpose of the program is to improve capital efficiency and strengthen shareholder returns, and to enable the execution of agile capital policies in response to changes in the business environment. The program is valid till August 24, 2021. As of July 31, 2021, the company had 35,503,617 shares issued (excluding treasury stock) and 7,383 shares in treasury.
FUSO CHEMICAL CO., LTD. is a Japan-based company mainly engaged in the life science business and the electronic material business. It operates through two business segments. The Life Science segment manufactures and sells fruit acids, including apple acids, gluconic acid and citric acids, as well as application development products, which are used in quality improvers for noodle products, preservation for processed foods and laver cultivation, total sanitation of food manufacturers and the improving of metal processing. The Electronic Material and Functional Chemical segment provides electronic materials, including high-purity spherical silica; functional chemicals, including plastic, paint additives and resin additives, as well as fine chemicals. It is also involves in organic acid business.
FUSO CHEMICAL CO.,LTD. 
