Hagiwara Electric Co., Ltd. announces an Equity Buyback for 180,000 shares, representing 2.17% for ¥360 million.
May 30, 2016 at 04:40 am EDT
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Hagiwara Electric Co., Ltd. (TSE:7467) announces a share repurchase program. Under the program, the company will repurchase up to 180,000 shares, representing 2.17% of its total shares outstanding excluding treasury shares, for a total of ¥360 million. The purpose of the repurchase program is to enhance capital efficiency and to implement a flexible capital policy corresponding to changes in the business environment. The share repurchase program is valid until September 30, 2016. As of March 31, 2016, the company had 8,305,479 shares outstanding excluding treasury shares and had 12,521 shares in treasury.
HAGIWARA ELECTRIC CO., LTD is mainly engaged in the sale of electronic components. The Company operates in two business segments. The Device Business Unit segment sells semiconductors and electronic components, mainly for automobile related companies, support for embedded software / hardware development, technical support such as custom LSI. The Solution Business Unit segment, in addition to proposing to build IT platform infrastructure from sales of information technology (IT) equipment, measurement equipment and embedded equipment, it is also engaged in the design, manufacture and sale of FA system and special measuring system, as well as the industrial computers.